6,568 Sqft Lot
6,568 Sqft Lot
Key Details
Property Type Other Types
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
MLS Listing ID GD26237013
HOA Y/N No
Year Built 1988
Lot Size 6,568 Sqft
Property Sub-Type Apartment
Property Description
Situated on an approximately 6,567-square-foot lot, the two-story property comprises approximately 3,972 square feet of building area and features five generously sized two-bedroom, one-and-a-half-bathroom units. The property's desirable unit mix, practical layouts, and central location make it an appealing investment for buyers seeking stable rental income with opportunities to enhance overall performance.
Currently 80% occupied, with four of the five units leased, the property generates approximately $100,824 in annual scheduled rental income, representing a 4.53% current capitalization rate. The vacant fifth unit offers an immediate opportunity to increase revenue without relying on the turnover of existing tenants. At projected market rents, annual scheduled income increases to approximately $127,824, supporting a 6.15% pro forma capitalization rate, based on estimated operating expenses and a 3% vacancy allowance.
Located in a well-established residential pocket of Koreatown, the property benefits from its proximity to Downtown Los Angeles, Wilshire Boulevard, major employment centers, restaurants, shopping, entertainment, and public transportation. The surrounding neighborhood features a blend of established multifamily buildings, residential communities, and neighborhood-serving businesses, contributing to the area's continued appeal among renters seeking convenient access to Central Los Angeles.
With its 1988 construction, five desirable two-bedroom units, existing income, and immediate lease-up potential, 917 S. Catalina Street presents a compelling opportunity for investors seeking a well-located multifamily asset with both current cash flow and meaningful potential for increased rental income.
Location
State CA
County Los Angeles
Area C17 - Mid-Wilshire
Interior
Fireplace No
Laundry None
Exterior
Pool None
Community Features Biking
Total Parking Spaces 8
Private Pool No
Building
Lot Description Rectangular Lot
Story 2
Entry Level Two
Sewer Public Sewer
Water Public
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 5094023010
Acceptable Financing Cash, Cash to New Loan, Conventional
Listing Terms Cash, Cash to New Loan, Conventional
Special Listing Condition Standard
Nearby Locations
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