Property Details

Price $3,200,000

Year Built 1956

# of Units 10

Price P/ Unit $355,556

Sq. ft. 6,016 SF

Price p/ Sq. ft. $532

Current Cap Rate 2.76%

Proforma Cap Rate 6.42%

Lot Size 6,250 SF

Zoning LAR3

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About the Property

8006-08 Blackburn Avenue, a well-maintained 9-unit property located in a top LA rental neighborhood that attracts high-income young professionals. Just one block South of W. 3rd Street, walkable to a wide array of top-tier restaurants, luxury retailers, and lively nightlife options. Comprised of (8) 1-bdrm. units and (2) studio units sitting on 6,250 SF of land zoned LAR3. Please note, one of the studio units is a non-conforming unit. The property has been upgraded with soft-story retrofit completion, copper plumbing, and new windows. Property amenities include a laundry room, five tandem parking spaces, and a communal outdoor area. Tremendous value-add opportunity, rents are approx. 64% below market rate compared to renovated units in the area.

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