$1,750,060
$1,800,000
2.8%For more information regarding the value of a property, please contact us for a free consultation.
6363 Cedar ST Huntington Park, CA 90255
6,969 Sqft Lot
Key Details
Sold Price $1,750,060
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
MLS Listing ID SB19065726
Sold Date 05/10/19
HOA Y/N No
Year Built 1963
Lot Size 6,969 Sqft
Acres 0.16
Property Description
Lyon Stahl is pleased to present this excellent multi family opportunity at 6363 Cedar St, Huntington Park, CA. The property is a 7 unit apartment building in the red-hot Southeast LA submarket with NO RENT CONTROL. The property also lies inside of an Opportunity Zone. This property boasts a desirable unit mix consisting of (1) 3-bed/1.5-bath, (1) 2-bed/1.5-bath, and (5) 2-bed/1-bath units and a total square footage of 6,912 square feet. Each unit has its own garage and walk in closet, and the master unit has (2) of each. The interiors are well maintained with capital improvements and there is little-to-no deferred maintenance on the property. This property has excellent financials with upside to achieve more. The current CAP Rate is 4.85% with an achievable market CAP of 6.42%. Additionally, the current GRM sits at 13.12 with a market GRM of 10.83. With regards to what has sold in the area, these numbers put this opportunity at the forefront. In this Southeast LA submarket, the combination of low vacancies, healthy rent growth, below-average prices, and proximity to Downtown has drawn the attention of investors priced out of other parts of LA. OM ATTACHED IN SUPPLEMENTS
Location
State CA
County Los Angeles
Area T5 - Walnutpk, Huntpk, Bell N Of Florence, And Cud
Zoning HPR3YY
Rooms
Ensuite Laundry Common Area
Interior
Laundry Location Common Area
Fireplace No
Laundry Common Area
Exterior
Garage Spaces 8.0
Garage Description 8.0
Pool None
Community Features Curbs, Gutter(s), Sidewalks
Total Parking Spaces 8
Private Pool No
Building
Lot Description 0-1 Unit/Acre
Story 2
Entry Level Two
Sewer Public Sewer
Water Public
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 6319007019
Energy Description 1400.0
Acceptable Financing Cash, Cash to New Loan, 1031 Exchange
Listing Terms Cash, Cash to New Loan, 1031 Exchange
Financing Cash
Special Listing Condition Standard, Trust
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Bought with Nina Kirkendall • Keller Williams Realty