Classic Spanish 6-Unit in Leimert Park at 4200 6th Avenue
$1,595,000
4200 6th Avenue, Los Angeles, CA 90008
5,278 SF
Square Feet
$302
PPSF
6
Units
200.0K
PPU
5.87%
CAP
Property Description
Units
6 — PPU: 200.0K
NOI
$93,568
Cap Rate
5.87%
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).
Property Details
Asset Type
MultiFamily
Year Built
1929
Lot Size
7,596 SF
Neighborhood
Leimert Park
Submarket
Los Angeles
ZIP
90008
Renovated
2021
Listing Type
sale
Net Operating Income (NOI)
$148,446
Debt Service Coverage Ratio (DSCR)
1.64x
Cap Rate
9.31%
Cash Flow (Annual)
$57,713
Cash-on-Cash Return
14.47%
Monthly Debt Service
$7,561
Annual Debt Service
$90,733
View on Map
Address
4200 6th Avenue
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Los Angeles MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale
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