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Search Cali Homes Team
9924 S Van Ness Ave, Los Angeles, CA 90047
- $4,500,000
- 52
- BD
- 26
- BA
- 16,928
- SqFt
Courtesy of McAlpin & Company, Jerome McAlpin - CA DRE#00939725
- List Price
- $4,500,000
- Status
- ACTIVE
- Days on Market
- 21
- MLS#
- 26999409
- Style
- Bungalow
- Year Built
- 1950
- Bedrooms
- 52
- Bathrooms
- 26
- Living Area
- 16,928
- Lot Size
- 39,111
- Acres
- 0.90
- MLS Area Major
- Metropolitan Southwest
Property Description
We are excited to present the Van Ness-Century Complex. Located at 2111-2155 West Century and 9920-24 S Van Ness this residential compound consists of 26 - 2 Bedroom units on almost an acre of land. Units are comprised of 3(2+1) units and a billboard at the Van Ness address. The Century address consists of 23 (2+1) units. The apartments were built in 1950, contain 16,928 square feet and are made of wood-frame stucco construction. They are located on a large corner lot of 39,111 square feet, which is zoned LAC2-1. The scheduled gross income on the property is $480,477 and the estimated Net Operating Income is $310,800. Based on the attractive price of $4,500,000, the GRM is 9.3 and the CAP rate is 6.9. At that price, the Cost Per Unit is $173,077. Market rent would generate an income of $660,000, providing a 10.9% CAP Rate and a GRM of 6.68. So, long term, this investment will provide a tremendous return. With 35% down, the investment would produce a cash-on-cash return of 5.65%, day 1.
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Additional Information
- Property Description
- Bungalow
- Air Conditioning
- None
- Stories
- 1
- View
- None
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