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4723 August St

Los Angeles (City), CA 90008
  • $4,500,000
  • STATUS: Active
  • ON SITE: 28 Days
  • ID#: 22150371
UPDATED: 32 min ago
$4,500,000
  • 0
    BEDS
  • 0.37
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Type:
Multi-Family
County:

School Ratings & Info

Listing Agent(s): Neema Ahadian of Marcus & Millichap (310-909-5500)


Description

4723-4725 August St (APN: 5030-004-018, 5030-004-019) is a 20-unit gated apartment community located in Baldwin Village just south of Coliseum St between Nicolet Ave and Stevely Ave. The property consists two adjacent ten-unit buildings featuring eight one-bedrooms, eight two-bedrooms, and four three-bedrooms with 12 parking spaces.This is a true value-add opportunity with the majority of units leased at below market rents. There is substantial rental upside of over 53% achievable through interior renovations as units turn as well as exterior capital expenditures. At the asking price, the subject property is being offered at a low $218 PSF with a pro forma CAP rate of 7.35% once stabilized. 4723-4725 August St is separately metered for gas and electric.The property is in the heart of Los Angeles and within minutes of major entertainment and employment hubs in Culver City, LA World Airport, DTLA and Inglewood. There is a significant affordability gap to home ownership in the 90008-zip code as the median home price in the direct area is approximately $871,913 and a typical monthly mortgage payment is considerably more than the average renovated rents at 4723-4725 August St. Additionally, the property is located less than one mile from Kaiser Permanente and the Baldwin Hills Shopping Center.

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Based on information from California Regional Multiple Listing Service, Inc. as of 2022-05-26T18:34:23.413. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or The Houston Team | Compass CA DRE#01991628. Licensed in the State of California, USA.
www.northsdrealty.com/homes/128105784
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4723 August St Los Angeles (City), CA 90008

  • Price: $4,500,000
  • Status: Active
  • On Site: 28 Days
  • Updated: 32 min ago
  • ID#: 22150371
0
Beds
0
Baths
0
½ Baths
0.37
Acres
Neighborhood:
PHHT - Park Hills Heights
County:
Los Angeles
Area:
PHHT - Park Hills Heights
Property Description
4723-4725 August St (APN: 5030-004-018, 5030-004-019) is a 20-unit gated apartment community located in Baldwin Village just south of Coliseum St between Nicolet Ave and Stevely Ave. The property consists two adjacent ten-unit buildings featuring eight one-bedrooms, eight two-bedrooms, and four three-bedrooms with 12 parking spaces.This is a true value-add opportunity with the majority of units leased at below market rents. There is substantial rental upside of over 53% achievable through interior renovations as units turn as well as exterior capital expenditures. At the asking price, the subject property is being offered at a low $218 PSF with a pro forma CAP rate of 7.35% once stabilized. 4723-4725 August St is separately metered for gas and electric.The property is in the heart of Los Angeles and within minutes of major entertainment and employment hubs in Culver City, LA World Airport, DTLA and Inglewood. There is a significant affordability gap to home ownership in the 90008-zip code as the median home price in the direct area is approximately $871,913 and a typical monthly mortgage payment is considerably more than the average renovated rents at 4723-4725 August St. Additionally, the property is located less than one mile from Kaiser Permanente and the Baldwin Hills Shopping Center.
Exterior Features

Parking Features Covered Parking Total 12

Interior Features

Appliances Refrigerator Heating Natural Gas Heating YN Yes

Property Features

Association Fee 0 Gross Income 313970 Listing Agreement Seller Reserved Listing Service Full Service Net Operating Income 184632 New Construction YN No Senior Community YN No Special Listing Conditions Standard Vacancy Allowance Rate 1



Based on information from California Regional Multiple Listing Service, Inc. as of 2022-05-26T18:34:23.413. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or The Houston Team | Compass CA DRE#01991628. Licensed in the State of California, USA.
 
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The Houston Team | Compass CA DRE#01991628
2100 Costa Del Mar
Carlsbad CA, 92009
Listing Agent(s): Neema Ahadian of Marcus & Millichap (310-909-5500)