Kenny Stevens Team is pleased to present 900 West College Street, an 8-unit multifamily investment asset located in the culturally dynamic and rapidly developing neighborhood of Chinatown. The 8,054 two-story building sits on a 6,808 SF lot and is comprised of(1) 4 Bdrm. and 3.5 Bath Townhouse, (1) 3 Bdrm. and 1.5 Bath unit and(5) 2 Bdrm. and 1 Bath units. Please note, the townhouse currently serves as the owner’s unit and will be delivered vacant upon close of escrow.
8 Units in Chinatown with 39% Upside on Rents
900 West College Street, Los Angeles
Property Details.
Price $2,580,000
Year Built 1969
# of Units 8
Price P/ Unit $322,500
Sq. ft. 6,808 SF
Price p/ Sq. ft. $320
Current Cap Rate 3.98%
Proforma Cap Rate 6.51%
Lot Size 6,808 SF
Zoning LAR4
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900 West College Street
Los Angeles, CA 90012
Los Angeles, CA 90012
About the Property
The Opportunity
The units offer a significant value-add opportunity to potential investors, as current rents are approximately 39% below market value for nicely remodeled units in the area. Located in a neighborhood that is currently seeing several large-scale developments, 900 West College St. presents investors with the opportunity to acquire an ideal value-add investment with significant financial upside.
