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$ 1,400,000
Est. payment /mo
Pending
6416 S Victoria Avenue Los Angeles, CA 90043
6,244 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Other
Listing Status Pending
Purchase Type For Sale
Square Footage 6,244 sqft
Price per Sqft $224
MLS Listing ID CL25612339
HOA Y/N No
Year Built 1955
Lot Size 9,467 Sqft
Acres 0.22
Property Sub-Type Other
Property Description
The property for sale is a 10-unit apartment complex located at 6416 S Victoria Avenue, Los Angeles CA 90043. The 6,244 square foot two story apartment was built in 1955 and is situated over a 9,467 square foot lot & is zoned LAR3. The ten-unit apartment consists of two 2 bedroom / 1 bathroom units and eight 1 bedroom / 1 bathroom units. There are 10 on-site parking spots located at the back of the property. The property has approximately 32% remaining rental upside through unit renovations. A savvy investor can also take advantage of higher potential rents by renting to Section 8 tenants which pay higher than current market rents for the 90043 zip code. The Housing Authority of the City of Los Angeles (HACLA) voucher payment standards pays up to $2,289 for 1Bedroom units & $2,887 for 2 bedroom units. There are multiple developments that are currently underway in the area and in planning stages. The location offers unparalleled convenience in one of LA's most desirable areas. The property is near several restaurants, cafes, bars, grocery stores, shopping centers and spiritual centers. The area is a diverse community that is being gentrified in a quiet neighborhood in the center of Los Angeles. The sub-market witnessed a relatively strong rental demand for hundreds of new units du
Location
State CA
County Los Angeles
Zoning LAR3
Interior
Cooling Wall/Window Unit(s)
Fireplace No
Building
New Construction No
Others
Tax ID 4006009022
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Listed by Meir Frydman • Keller Williams Los Angeles