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Multifamily

4723-4725 August St

4723 August St, Los Angeles, CA 90008

Listing Price: $4,500,000

Cap Rate
4.10%
Number of Units
20
Price/Unit
$225,000
Price/Gross SF
$217.60
Gross SF
20,680

Investment Overview

4723-4725 August St 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. In 1988, Baldwin Village became a distinct community in the city’s General Plan. It is known by locals because of the tropical trees and foliage such as palms, banana trees and begonias that once thrived among the area’s tropical-style postwar apartment buildings. Baldwin Village sits below the affluent Baldwin Hills, a hillside neighborhood with million dollar homes and stunning views of Los Angeles. Baldwin Hills is also home to the Kenneth Hahn State Recreation Area, a state park unit of California in the Baldwin Hills Mountains of Los Angeles. As one of the largest urban parks and regional open spaces in the Greater Los Angeles Area, many have called it “L.A.’s Central Park”.

Investment Highlights

  • 4723-4725 August St is a true value-add investment opportunity located in Baldwin Village just south of Coliseum St, one of the most rapidly gentrifying submarkets in all of Los Angeles
  • The subject property consists of two adjacent 10-unit buildings featuring a unit mix of eight one-bedrooms, eight two-bedrooms and four three-bedrooms
  • 12 parking spaces; the units are spacious as the total gross building area totals 20,680 SF
  • This is an ideal opportunity for an investor to achieve the 53% rental upside as units turn; at the asking price, the property is being offered at a low $218 PSF with a pro forma CAP rate of 7.35%
  • The building has been well-kept throughout the years but will benefit from interior renovations as well as exterior capital expenditures to rent units at market rates; additionally, the building is separately metered for gas and electric
  • The subject property is located less than one mile from both Kaiser Permanente as well as the Baldwin Hills Shopping Center; there are plentiful retail options within walking distance on S La Brea Ave
  • The property is in the heart of Los Angeles and within minutes of major entertainment and employment hubs

Exclusively Listed By

Financing By

Multifamily

4723-4725 August St

Listing Price: $4,500,000

Cap Rate
4.10%
Number of Units
20
Price/Unit
$225,000
Price/Gross SF
$217.60
Gross SF
20,680

Investment Highlights

  • 4723-4725 August St is a true value-add investment opportunity located in Baldwin Village just south of Coliseum St, one of the most rapidly gentrifying submarkets in all of Los Angeles
  • The subject property consists of two adjacent 10-unit buildings featuring a unit mix of eight one-bedrooms, eight two-bedrooms and four three-bedrooms
  • 12 parking spaces; the units are spacious as the total gross building area totals 20,680 SF
  • This is an ideal opportunity for an investor to achieve the 53% rental upside as units turn; at the asking price, the property is being offered at a low $218 PSF with a pro forma CAP rate of 7.35%
  • The building has been well-kept throughout the years but will benefit from interior renovations as well as exterior capital expenditures to rent units at market rates; additionally, the building is separately metered for gas and electric
  • The subject property is located less than one mile from both Kaiser Permanente as well as the Baldwin Hills Shopping Center; there are plentiful retail options within walking distance on S La Brea Ave
  • The property is in the heart of Los Angeles and within minutes of major entertainment and employment hubs

Investment Overview

4723-4725 August St 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. In 1988, Baldwin Village became a distinct community in the city’s General Plan. It is known by locals because of the tropical trees and foliage such as palms, banana trees and begonias that once thrived among the area’s tropical-style postwar apartment buildings. Baldwin Village sits below the affluent Baldwin Hills, a hillside neighborhood with million dollar homes and stunning views of Los Angeles. Baldwin Hills is also home to the Kenneth Hahn State Recreation Area, a state park unit of California in the Baldwin Hills Mountains of Los Angeles. As one of the largest urban parks and regional open spaces in the Greater Los Angeles Area, many have called it “L.A.’s Central Park”.

Exclusively Listed By

Financing By

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