Property Details

Price $4,995,000

Year Built 2020

# of Units 9

Price P/ Unit $555,000

Sq. ft. 6,939 SF (includes rooftop)

Price p/ Sq. ft. $720

Current Cap Rate 4.20%

Proforma Cap Rate 4.60%

Lot Size 7,000 SF

Zoning WDR3C

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About the Property

321 N. Bixel, a collection of newly constructed modern units offering condo-quality amenities and unparalleled views of the DTLA skyline. This stabilized trophy asset generates $300K+ in annual gross rental income and features stellar tenant profiles with high-income producing jobs. Constructed in 2020, this generational asset is comprised of (7) loft-style studio units with private rooftop patios and (2) studio units with private courtyards. Each chic and functional unit features cutting-edge smart home tech, stainless-steel appliances, quartz countertops, recessed lighting and in-unit washer and dryer. Please note, 7 of 9 units were leased during the COVID pandemic, assuring future investors the property will continue to attract rental interest, even during challenging times.

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