$ 1,250,000
-
$1,250,000
Price -
10
Bed -
8
Bath -
5,364
SqFt -
0.22
Acre
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About the Listing SB1301220 - SBLONGAUS
We are pleased to present 375 Leslie Way, a 6-unit apartment community in the rapidly growing Highland Park sub-market of Los Angeles. Offered at $1,250,000 ($208,333 per unit, $233.04 per sq ), the property gives investors in-place income and significant rent upside. Built in 1965, the property has approximately 5,364 sq of building area on a 9,568 sq lot. The unit mix is all two-bedrooms, four 2 bed + 1.5 bath units and two 2 bed + 1 bath units, which is highly desirable for Highland Park renters. The oversized lot provides ample parking, a rare feature in this neighborhood, as well as potential for ADU expansion. Tenants pay gas and electric. The property is currently operating at a 5.86% cap rate and 11.26 GRM. Current rents range from $1,025 to$1,920, compared with projected market rents of $2,500 for the 2+1.5s and $2,300 for the 2+1s. At market rents, net operating income grows from $73,217 to an estimated $138,340, a 11.07% cap rate and 6.99 GRM.375 Leslie Way has a Walk Score of 81 and is within walking distance of some of Highland Parks most popular shopping and dining. The neighborhoods continued growth, and strong rental demand make this a compelling opportunity to add value in one of Los Angeles's most sought-after submarkets.
Listing Highlights for 375 Leslie
Interior Details
- Bedrooms: 10
- Bathrooms: 8 Full
- Appliances:
- Air Cond:
- Heating:
- Fireplaces:
- Floor:
- Basement:
- Other:
- Water: Public
Exterior Details
- Lot Description: 0-1 Unit/Acre,Yard,No Land Lease
- Garage Capacity: N/A
- Parking Spaces: 8
- Roof:
- Others: 2+ Total Units,Has ADU
- Sewer: Public Sewer
Financial Details
- Tax Amount: N/A
- Taxes w/Assessments: N/A
- Tax/Property ID: 5492006027
- Tax Year: N/A
Payment Calculator
Monthly Payment
- in Principal and Interest
- in Taxes
Listing Location
Questions About..
375 Leslie Los Angeles, CA 90042
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