1344 West 98th is a four-unit value-add South LA property with approx. 52% upside compared to renovated units in the area. Located just north of Century Blvd. and Normandie Ave, the property is approx. 3.0 miles from The Village at Century, SoFi Stadium, Hollywood Park, The Forum, and the Intuit Dome (opening in 2024). 1344 West 98th features (4) 1-bdrm. units, across 3 structures, on a 6,256 SF lot zoned LCC3YY. This value-add opportunity is offered at $225,000 per unit and $329 per foot. At projected market rents, 1344 West 98th will stabilize at an 8.12% CAP and 9.44 GRM. Additional property amenities include a community laundry room and (4) 1-car garages that can be converted into ADUs (buyer to verify).
4 Units Offered @ $225,000 per Unit & $329 per Foot
1344 West 98th Street, Los Angeles
Property Details
Price $900,000
Year Built 1948
# of Units 4
Price P/ Unit $225,000
Sq. ft. 6,256 SF
Price p/ Sq. ft. $329
Current Cap Rate 4.48%
Proforma Cap Rate 8.02%
Lot Size 6,256 SF
Zoning LCC3YY
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About the Property
