5427 Carlton Way new Save Request In-Person Tour Request Virtual Tour
Los Angeles,CA 90027
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 15,320 sqft
Price per Sqft $407
MLS Listing ID CL25553221
Year Built 1957
Lot Size 0.394 Acres
Property Sub-Type Other
Property Description
JNM Realty Inc is proud to present, on an exclusive basis, a 22-unit low-rise apartment complex in the heart of East Hollywood with tremendous in-place cash flow. The asset has been professionally managed and maintained over the past 11 years and presents the opportunity for a new investor to improve the facility and its financial output through extended renovations. Community amenities include a pool, laundry room, and onsite parking. The property has been extremely well-maintained with improvements to the exterior facade and sixteen (16) of twenty-two (22) units fully renovated featuring new flooring, electrical, plumbing, and mini splits. There are (17) onsite parking spaces, non-tandem. A qualified investor could assume the favorable 3.20% interest-only rate through March 2026, amortizing through March 2027. This results in an 8.51% cash on cash return immediately upon acquisition. Through renovations and improvements, the property has the potential to reach a 7.02% stabilized cap rate and a 13.87% cash on cash return. Additional potential upside through ADUs through utilizing the onsite parking. Buyer to verify.
Location
State CA
County Los Angeles
Zoning LAR4
Interior
Laundry Common Area,Dryer,Washer
Exterior
View Y/N true
View Other
Building
New Construction No