New Multifamily Building at 3324 Chapman Street Los Angeles
$4,560,000
3324 Chapman Street, Los Angeles, CA 90065
8,678 SF
Square Feet
$525
PPSF
8
Units
500.0K
PPU
3.89%
CAP
Property Description
Units
8 — PPU: 500.0K
NOI
$177,450
Cap Rate
3.89%
Building Completed in 2022; No RSO (rent stabilization ordinance) with
an immediate +- 23.64% rental upside potential (7 of the 8 units are MTM).
14 parking spaces — potential for 7 ADUs or expansion (buyer to verify).
Excellent unit-mix of 2 (two) 3Bedroom + 2Bathroom units, six (6) 2bedroom +
2Bathroom|1.5 Bathroom|1Bathroom units. All units equipped with private
laundry. 7-units are currently MTM and 8th unit lease expires 3/31/2026.
Seven units separately metered for electricity, gas, and internet. 7 units privately
metered for water (landlord reads meters and bills tenants).
Prime Glassell Park location: Near Glendale, Atwater Village, Los Feliz, Mt.
Washington, Silver Lake
Many nearby amenities: Dodger Stadium, Whole Foods, Costco, Glendale Galleria,
Americana at Brand, Hospitals, Schools, and everything L.A. has to offer.
Close proximity to all employment hubs & easy access to FWY: 5, 2, 110, 134, & 101
Two(2) common storage rooms; 6 units ready to increase. Most units have balconies, some feature private offices.
Property Details
Asset Type
MultiFamily
Year Built
2022
Zoning
LARD 2
Lot Size
9,613 SF
Neighborhood
Glassell Park
Submarket
Los Angeles
ZIP
90065
Listing Type
sale
Offering Memorandum
Net Operating Income (NOI)
$281,525
Debt Service Coverage Ratio (DSCR)
1.09x
Cap Rate
6.17%
Cash Flow (Annual)
$22,124
Cash-on-Cash Return
1.94%
Monthly Debt Service
$21,617
Annual Debt Service
$259,401
View on Map
Address
3324 Chapman Street
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Los Angeles MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale
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