Property Details

Price $2,950,000

Year Built 1956

# of Units 9

Price P/ Unit $327,778

Sq. ft. 6,016 SF

Price p/ Sq. ft. $490

Current Cap Rate 3.73%

Proforma Cap Rate 7.48%

Lot Size 6,250 SF

Zoning LAR3

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About the Property

Kenny Stevens Team is pleased to present 8006 Blackburn, featuring nine well-maintained units (plus one non-conforming unit) located in a top LA rental neighborhood that attracts high-income young professionals. Residing one block south of W. Third Street (between The Grove & Beverly Center), these units are walking distance to a wide array of top-tier restaurants, luxury retailers and lively nightlife options. The property is comprised of (8) 1-Bdrm units and (2) studio units and has been upgraded with soft-story retrofit completion, copper plumbing and new windows. Please note, there is a VACANT 1-Bdrm. unit and a non-conforming studio unit. 8006 Blackburn presents a significant value-add opportunity, as current rents are way below market rates compared to renovated units in the area. Property amenities include a laundry room, five tandem parking spaces and a communal outdoor area.

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