10961 Rose is located on the best street in all of Palms. Rose is a primarily residential area of Palms that does not have many apartment buildings. Quiet and beautiful, this area is the single best spot to own in the 90034 zip code. The Rose Apartments are coming to… Read More the market for the first time in over 30 years. A beautiful asset with oversized units. The units are currently rented well under market and a buyer can achieve over 57% upside on this asset just by increasing the current rents. A value-add investor may build 2 attached ADU's on the site as well to further increase the income over 100%. We are delivering the property at a very attractive 5.24% cap rate and 11.89 GRM. The property is also being delivered well under market at only $313 a foot. Some of these oversized units have large dens that can be converted to bedrooms to further increase the upside. The property has had its soft story retro fit completed and is well parked with 9 individual spaces + 3 extra tandem spaces on-site for a total of 12 parking. This is a prime asset in an A+ location of LA being delivered under market with tremendous upside! Read Less
Property listed by Lyon Stahl Investment Real Estate, Inc., Cameron Samimi 310-259-7556
Listing Snapshot
Days Online
8
Last Updated
Property Type
Apartment
Lot Size
0.19 Acres
Year Built
1968
MLS Number
SB25107742
30 Days Snapshot Of 90034
$1.83M
+3%
(avg) sold price
8
-20%
homes sold
59
0%
(avg) days on market
Snapshot
Area Map
Additional Details
Building
Built in 1968, Building area total: 9,558, Levels: Two, 2 stories, 1 building, Architectural style: , Attached, Common walls: TwoCommonWallsOrMore
Community
Suburban
Expenses
Operating expense: $87,251
Garage
9 spaces
Income
Gross income: $251,834, Net operating income: $157,028
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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