Cash Flowing (17 Units)
Turnkey Investment with upside priced at only 217k/door at 6.5% Cap Rate from Day 1 with upside to 10.1% Cap Rate on Proforma
2176 W Venice Blvd. Los Angeles CA 90006
$3,650,000
Offering Price
6.25 %
Cap Rate
11.45
GRM
17
Number of Units
Description
  • 17-unit value-add opportunity priced at only 214k/door with a remarkable Current Cap Rate of 6.25% and 11.4 GRM and an incredible upside potential to 10% Cap Rate and 7.9 GRM on proforma. The property consists of 14 units plus 3 brand-new attached ADUs currently under construction. Additionally, 5 of the 14 units have been already fully remodeled with permits and boast new modern cabinets, flooring, lighting, new bathrooms, and significant exterior improvements. Each unit is individually metered for gas and electricity while tenants cover garbage fees - saving you money on utilities from day one. The large 10,015 SF lot comes complete with gated parking spaces that can accommodate up to multiple cars and requires no soft-story retrofitting. Plus, there are Nearly RTI plans to add 2 additional detached ADUs (2bed/2bath & 3bed/3bath) over the carport to improve the numbers to only 192k/unit, 324/SF, 8.2% Cap Rate, and 9 GRM on current with upside to 12% Cap Rate and 6.6 GRM on proforma after building the detached ADUs. And let's not forget about its unbeatable location near popular neighborhood attractions like Alibi Coffee Co., Starbucks, Koreatown, DTLA, Culver City, and public transportation options all while being in close proximity to major freeways ensuring smooth travel times within Los Angeles city limits. Don't wait another moment to grab this rare opportunity before it slips away!
  • Incredible value-add opportunity with potential for high returns on investment
  • 17 units at a low price of only $214k per door
  • Current Cap Rate of 6.25% and GRM of 11.4, with potential to increase to 10.% Cap Rate and 7.9 GRM on proforma
  • Includes 3 brand-new attached ADUs currently under construction
  • 5 units have already been fully remodeled with permits, featuring modern cabinets and flooring
  • Prime location in a desirable neighborhood
  • Potential for increased rental income with updates and renovations
  • Low vacancy rates in the area
  • Opportunity for long-term cash flow and wealth building
  • Perfect for investors or owner-operators looking to expand their portfolio.
Mic-City Los Angeles
  • This property is not just any ordinary real estate - it's an opportunity to invest in a prime location that promises growth and potential. Harvard Heights, this emerging market gem, is a bustling Los Angeles neighborhood that's thriving with energy and excitement. The area offers all the conveniences of city living along with trendy hotspots like Alibi Coffee Co. as well as numerous national credit tenants for shopping and dining options. But what really sets this place apart is its accessibility to major transportation hubs like the 10 freeway and other commercial corridors - perfect for any business venture or evening activities. Moreover, Harvard Heights isn't just confined within its own boundaries- you have easy access to nearby areas such as Koreatown, DTLA, and Culver City that are brimming with diversity! With public transportation being available right at your doorstep coupled with convenient freeway access make it an even more lucrative prospect waiting to happen! So why wait? Say hello to your next big investment in this amazing emerging market today!
FOR MORE DETAILS CONTACT
Armin Soleimani
Realtor
(310) 666-2246
ziuroiluj@gmail.com
Lic: 01846872
Julio Ruiz
Broker
(818) 524-0706
ziuroiluj@gmail.com
Lic: 01911261