Property Detail

Description

We are pleased to offer for sale 150 West 76th Street, a four-unit apartment community located in the Florence neighborhood of Los Angeles, just west of Main Street between Florence Avenue and Manchester Avenue.Built in 1925, the property comprises 2,257 square feet of improvements across two single-story buildings on a 6,300-square-foot parcel, with a unit mix of two studios and two two-bedroom units and four on-site parking spaces. The property is currently achieving more than $8,600 in scheduled rent per month, and the offering is priced at a 9.19% scheduled cap rate and an 8.22 GRM, both stronger than the recent comparable sales in the surrounding submarket.With a Walk Score of 73, the property sits within a quarter mile of the 45 Metro local line and the Vermont/Main DASH. The 110 Freeway runs about half a mile west, with interchanges at Florence Avenue and Manchester Avenue, placing Downtown Los Angeles about seven miles north and the 105 interchange about three miles south for direct access to LAX and the South Bay.150 West 76th Street offers investors an opportunity to acquire an asset with strong in-place income in South Los Angeles.PLEASE DO NOT WALK THE PROPERTY OR DISRUPT TENANTS. CONTACT THE LISTING TEAM FOR DETAILS.