1380 E 22nd ST new Save Request In-Person Tour Request Virtual Tour
Los Angeles,CA 90011
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 2,610 sqft
Price per Sqft $342
MLS Listing ID 25510149
Bedrooms 8
Year Built 1927
Lot Size 5,706 Sqft
Property Description
We are proud to present 1380 E 22nd Street, a four-unit property located in the heart of Downtown Los Angeles priced at a 7.38% CAP on current rents. All units will be delivered with tenants in place. Located south of the 10 freeway and east of the 110 freeway, this property is located just minutes away from Downtown Los Angeles, Chinatown, to the Crypto.com Arena, The Convention Center, LAFC, The Coliseum, USC, Natural History Museum as well as a number of other tenant amenities and conveniences. The property consists of two separate duplexes comprising 2,610 rentable square feet built in 1927 which is situated on a 5,705 square foot lot with alley access. The unit mix consists of (1) three-bedroom one bath, (2) two-bedroom two-bath and (1) one-bedroom one bath unit. Priced attractively at a 7.38% CAP Rate and at 9.32X Gross on current rents, this opportunity presents 35% upside in rents to operate at a 10.87% CAP Rate and a 6.91 GRM at market. All units are tenant occupied with all units having been renovated except for the one bedroom. Contact the listing broker for additional information.
Location
State CA
County Los Angeles
Area C42 - Downtown L.A.
Zoning LAR4
Exterior
Parking Features None
Building
Story 1
New Construction No
Others
Special Listing Condition Standard