Property Detail

Description

This property is part of a rare opportunity to acquire a 4 building, 52 unit portfolio in South Los Angeles. 1142-1148 E 120th Street is a well maintained, recently updated and professionally managed 16-unit apartment building with all 2 Bed/1 Bath units and on-site gated parking for tenants. The property sits on a massive 18,356 SF lot and favorably zoned LAC2 for land value. Location is family friendly for tenants being across the street from Magic Johnson Park, and very mobile being just blocks to/from the 105 freeway and minutes to/from the 110 freeway. The portfolio purchase features an in-place 8.76x GRM and 7.56% cap rate, and all properties are late 1950's construction assets with parking for tenants, and a unit mix of (36) 1 Bed/1 Bath & (16) 2 Bed/1 Bath units -- NO studios, bachelors or singles!