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… Read More 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. Read Less
Property listed by Kidder Mathews of California, Inc., Casey Lins 858-369-3010
Listing Snapshot
Days Online
70
Last Updated
Property Type
Other
Beds
8
Square Ft.
2,610
Lot Size
0.13 Acres
Year Built
1927
MLS Number
25510149
30 Days Snapshot Of 90011
$593k
+3%
(avg) sold price
4
-20%
homes sold
45
-79%
(avg) days on market
Snapshot
Area Map
Additional Details
Building
Built in 1927, Building area total: 2,610, Levels: One, Living area: 2610, 1 story, 2 buildings
Income
Gross income: $96,057, Net operating income: $66,094
Lot
0.131 acres, 5,705 square feet, Size: 5,705
Parking
None
Property
Zoning: LAR4
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Based on information from California Regional Multiple Listing Service, Inc. as of and/or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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