Great investment opportunity to own 9 X 2 bedroom units. Over 9,746 sq. ft. building on 8,100 sq. ft. R3 zoned lot. 30 % upside rent potential, Actual monthly rent: $12,980, Yearly GOI: $155,760, Current GRM: 12.8 - Market rent: $1,900/unit - Performa Yearly GOI: $205,200- Price per sq. ft.: $205 Building presents well, , 6 % cap rate, all units individually metered for Electricity and gas, 7 parking spaces, and a community laundry room, Camera system. 4 units close to Market rent $1800-$1920 and 5 units average $ 1100 monthly. The building is situated close to the Baldwin Hills Crenshaw Plaza, an existing shopping center with approved plans to be redeveloped into 961 residential units, 300,000 square feet of retail and restaurant space, a 10-story office building, and a 400-room hotel. Also within one block is the brand new Kaiser Permanent facility slated to open late 2017 after a $90 million investment in construction costs.
Listing provided courtesy of
, Keller Williams Rlty Westside
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Baldwin Hills/Leimert Park
Named for the Baldwin Hills mountain range that rises above the Los Angeles plain, this area has transcended its oil field past to become an area rich with recreation opportunities and vintage charm. Baldwin Hills was also the setting for BET’s eponymous series featuring affluent teens at play. Leimert Park was planned in the late 1920s with an eye toward creating the ideal self-sufficient community with its own town square and movie theater. With Leimert Park’s Vision Theatre set for a renovation the area could once again become a center for local theater.
Real Estate:This area includes many single family homes for sale as well as some condominiums. Baldwin Hills Estates offers some of the best views in the area especially from the streets known collectively as “the Dons” which include Don Luis, Don Lorenzo, and others. This area includes hillside homes often with swimming pools. Leimert Park offers bungalows and Spanish Colonial Revival style homes on tree-lined streets. Baldwin Hills Village, now known as The Village Green, is a residential community built in 1942 and now a condominium complex. It was designated a National Historical Landmark in 2001.
Community Life: Jazz and blues clubs, art galleries, and coffee houses make Leimert Park a cultural touchstone. The Leimert Park Artwalk is held on the final Sunday of each month. The Baldwin Hills Crenshaw Farmers' Market is held on Saturdays from 10 a.m. to 3 p.m.
Education: Baldwin Hills is zoned to the Los Angeles Unified School District with local schools that include Baldwin Hills Elementary School, Audubon Middle School, and Susan Miller Dorsey High School. Schools in the Leimert Park area include C.A.T.C.H. Charter High School, Tom Bradley Global Awareness Magnet, and New Heights Charter.
Transportation: Accessible from the 10 and 110 Freeways, this area is well-served with many local bus routes passing through and frequent stops.
Local Attractions: Leimert Plaza Park remains a popular gathering spot with many chess games and local events. Kenneth Hahn State Recreation Area is one of the city’s most beautiful parks, a former oil feed that now boasts native habitats, a fishing lake, lotus pond, community center and five miles of trails.
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