Property Detail

Description

We are pleased to present 9321 S Western Avenue, a mixed use investment opportunity with 3 apartment units and 2 retail spaces in Gramercy Park, Los Angeles. The property is comprised of two detached structures totaling 4,076 SF with a unit mix of all (1) 1 Bed / 1 Bath, (1) 2 Bed / 1 Bath units, (1) 3 Bed / 1 Bath units, and (2) Retail Spaces. The 3 Bedroom unit will be delivered vacant. The property will be delivered with a projected gross monthly income of $9,343 (upon lease up of vacant 3 bedroom unit), or $112,119 annually. The opportunity yields a 7.3% Cap Rate on current income (8.92 GRM). 9321 S Western Ave is centrally in the heart of Gramercy Park, just 2 miles east of SoFi Stadium / Hollywood Park with convenient access to LAX, South Bay, Inglewood, and Culver City. South Los Angeles has seen significant growth over the past several years due to its relative housing affordability and convenient proximity to Downtown Los Angeles, Sofi Stadium, USC, Culver City, and South Bay. Rents in South LA have grown significantly over the past few years. With low vacancy rates, landlord-favored market conditions, and numerous employment options nearby, South LA is poised for significant long-term growth.