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Listed by Cameron Samimi • Lyon Stahl Investment Real Estate, Inc.
$2,995,000
Est. payment /mo
9,558 SqFt
Active Under Contract
10961 Rose Avenue Los Angeles, CA 90034
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Key Details
Property Type Single Family Home
Sub Type Apartment
Listing Status Active Under Contract
Purchase Type For Sale
Square Footage 9,558 sqft
Price per Sqft $313
MLS Listing ID SB-25107742
Year Built 1968
Lot Size 8,169 Sqft
Property Sub-Type Apartment
Property Description
10961 Rose is located on the best street in all of Palms. Rose is a primarily residential area of Palms that does not have many apartment buildings. Quiet and beautiful, this area is the single best spot to own in the 90034 zip code. The Rose Apartments are coming to the market for the first time in over 30 years. A beautiful asset with oversized units. The units are currently rented well under market and a buyer can achieve over 57% upside on this asset just by increasing the current rents. A value-add investor may build 2 attached ADU's on the site as well to further increase the income over 100%. We are delivering the property at a very attractive 5.24% cap rate and 11.89 GRM. The property is also being delivered well under market at only $313 a foot. Some of these oversized units have large dens that can be converted to bedrooms to further increase the upside. The property has had its soft story retro fit completed and is well parked with 9 individual spaces + 3 extra tandem spaces on-site for a total of 12 parking. This is a prime asset in an A+ location of LA being delivered under market with tremendous upside!
Location
State CA
County Los Angeles
Zoning LAR3
Interior
Laundry Inside
Exterior
Parking Features Carport
Garage Spaces 9.0
Pool None
Community Features Suburban
Building
Lot Description 0-1 Unit/Acre
Sewer Public Sewer