500 S 6th St
Property Description
PRICE REDUCED $262,000 ! We are pleased to present for sale Property 4 of 6 within a newly launched 47-unit multifamily portfolio. This well-positioned multifamily asset features 11 spacious two-story, townhome-style units, each offering 2 bedrooms and 1.5 bathrooms, an attractive layout that continues to appeal to long-term tenants. Situated on a prominent corner location, the property benefits from strong street presence and visibility, and it is being offered for the first time in 13 years, presenting a rare opportunity in a tightly held submarket. Currently bringing in 5.93% Cap Rate and 11.10 GRM on Current Rents. The all-electric building sits on a large 16,417 square foot lot, providing operational efficiency along with long-term upside potential. With solid in-place income and approximately 39% rental upside, investors have a clear value-add opportunity through strategic rent increases. Additional features include on-site parking, secured entry, private outdoor spaces in select units, and an on-site laundry facility readily available to add machines and generate supplemental income. The property also offers convenient access to the 60, 605, 710, and 5 freeways, enhancing its appeal to commuters. Subject only to AB 1482 and not local rent control, this asset provides a favorable regulatory environment, making it a strong opportunity to acquire a stable, income-producing property with meaningful upside. As part of a six-property, 47-unit portfolio, investors also have the flexibility to purchase individually or as part of a larger investment strategy. Properties do not have to be sold together. ** Check out the property video link.Broker Details
RE/MAX Commercial & Investment (213) 233-4389
MLS ID: X83172 State License Number: 01713570
Key Property Information
| Listing Status: | Pending Sale |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| Price: | $2,638,000 |
| No. of Units: | 11 |
| Year Built: | 1962 |
| Lot Size: | 10,556.00 Sq ft |
| Opportunity Zone: | No |
| Price per unit: | $239,818 |
| Property Website | Click Here |
| Number of Bedrooms: | 22 |
| Number of Bathrooms: | 22 |
ID: 3yd-CLAWCA-26698721
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