4200 6th Ave
SIX UNIT MULTI-FAMILY INVESTMENT
The Offering
Summary
- Address: 4200 6th Ave
- City: Los Angeles
- Price: $1,595,000
- Units: 6
- Year Built: 1929
- Bldg. SF: 5,278
- Cap Rate: 5.87%
- GRM: 11.28
- Pro Forma Cap Rate: 8.18%
- Pro Forma GRM: 8.41
- Price Per Unit: $265,833
- Price Per SF: $302
Classic 1929 Spanish 6-unit in Leimert Park on a large corner lot with major value-add + ADU upside. Strong unit mix: (4) 2BD/1BA + (2) 1BD/1BA with courtyard charm and on-site parking/garages. ~23% mark-to-market upside through organic rent growth as units turn. Potential to add up to four (4) detached ADUs (Buyer to Verify), increasing income by 87% and a stabilized 8.18% yield on cost. Recent improvements include electrical upgrades, foundation bolting/reinforcement, exterior paint, roof recoat, and two remodeled units (refinished hardwood floors, paint, updated bath/shower, appliances, ceiling fans, mini-splits).
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