6740 Brynhurst Avenue

    Los Angeles (City), CA 90043
    • $4,595,000
    • STATUS: Active
    • ON SITE: 92 days
    • ID#: SR20042747
    UPDATED: 31 min ago
    $4,595,000
    • 0
      BEDS
    • 0.26
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 15,370
      SQFT
    • $299
      $/SQFT
    Type:
    Multi-Family
    Built:
    2019
    County:

    School Ratings & Info

    Description

    BRAND NEW CONSTRUCTION (NON RENT CONTROLLED APARTMENT BUILDING) at under $300 per Sq. ft. in booming neighborhood of RAMS Stadium. Only 3 min walk from new Florence/West LA metro station. Instant equity for buyer, (appraised for $4,970,000 by Lender for refinance on 02/06/2020). Certificate of Occupancy has been received in November 2019 and all the units has been rented. With Actual rents and expenses, this is available at actual CAP of 5.22 and GRM of 13.94. Seller is currently under refinance process for non-recourse assumable loan for 3,378,000 which will be transferred to buyer and buyer will have to bring in only difference for equity. There are total 12 very spacious unit - 9 units are 3 Bed/2 bath ranging from 1150 to 1350 sq. ft. , 2 units are 2 bed/2 bath at 950 sq. ft and one unit is 1 Bed/1 Bath on ground floor. Every unit comes with it's own private balcony and covered Reserved parking. Out of this, 2 units are reserved for affordable housing. Building has Recreational room and onsite Laundry.Location - Just under 2 miles to brand new 80,000 seat NFL Rams stadium, less than 2 miles away from the planned Hollywood Park development which will include about 500,000 SF retail & entertainment and more than 2500 residential units, this property's location screams for investors attention. This could be your best Investment for next 5-10 years as prices are going up consistently and growth in this area is higher as compared to other areas of LA.

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2020-05-30T09:26:04.097. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or RE/MAX Empire Properties. Licensed in the State of California, USA.

    www.inlandempiresold.com/homes/103585768

    6740 Brynhurst Avenue Los Angeles (City), CA 90043

    • Price: $4,595,000
    • Status: Active
    • Updated: 31 min ago
    • ID#: SR20042747
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.26
    Acres
    15,370
    SQFT
    $299
    $/SQFT
    2019
    Built
    Neighborhood:
    C34 - Los Angeles Southwest
    County:
    Los Angeles
    Area:
    C34 - Los Angeles Southwest
    Property Description
    BRAND NEW CONSTRUCTION (NON RENT CONTROLLED APARTMENT BUILDING) at under $300 per Sq. ft. in booming neighborhood of RAMS Stadium. Only 3 min walk from new Florence/West LA metro station. Instant equity for buyer, (appraised for $4,970,000 by Lender for refinance on 02/06/2020). Certificate of Occupancy has been received in November 2019 and all the units has been rented. With Actual rents and expenses, this is available at actual CAP of 5.22 and GRM of 13.94. Seller is currently under refinance process for non-recourse assumable loan for 3,378,000 which will be transferred to buyer and buyer will have to bring in only difference for equity. There are total 12 very spacious unit - 9 units are 3 Bed/2 bath ranging from 1150 to 1350 sq. ft. , 2 units are 2 bed/2 bath at 950 sq. ft and one unit is 1 Bed/1 Bath on ground floor. Every unit comes with it's own private balcony and covered Reserved parking. Out of this, 2 units are reserved for affordable housing. Building has Recreational room and onsite Laundry.Location - Just under 2 miles to brand new 80,000 seat NFL Rams stadium, less than 2 miles away from the planned Hollywood Park development which will include about 500,000 SF retail & entertainment and more than 2500 residential units, this property's location screams for investors attention. This could be your best Investment for next 5-10 years as prices are going up consistently and growth in this area is higher as compared to other areas of LA.
    Exterior Features

    Garage Spaces 16.00 Lot Features 36-40 Units/Acre Lot Size Source Assessor Lot Size Units Square Feet Parking Total 16.00 Pool Features None Pool Private YN No Property Attached YN Yes

    Interior Features

    Average Studio Area Units Square Feet Average1 Bed Area 600 Average1 Bed Area Units Square Feet Average2 Bed Area 950 Average2 Bed Area Units Square Feet Average3 Bed Area 1150 Average3 Bed Area Units Square Feet Common Walls 2+ Common Walls Cooling Central Air Cooling YN Yes Heating Central Heating YN Yes Laundry Features Common AreaCommunityStackable Levels One

    Property Features

    Additional Parcels YN No Association Fee 0.00 Association YN No Building Area Units Square Feet Cap Rate 5.22 Community Features MountainousSidewalksStorm DrainsStreet Lights Country Us Electric Expense 1800.00 Elevation Units Feet Fuel Expense 0.00 Gross Income 329220.00 Gross Multiplier 13.94 Gross Scheduled Income 329220.00 Insurance Expense 4891.00 Land Lease YN No Laundry Income 200.00 Laundry YN Yes Maintenance Expense 6000.00 Net Operating Income 239913.00 New Construction YN No New Taxes Expense 50000.00 Number Of Separate Electric Meters 12 Number Of Separate Gas Meters 1 Number Of Separate Water Meters 1 Number Of Units Leased 12 Number With Dishwasher 12 Number With Disposal 12 Number With Patio 11 Number With Range 12 Number With Refrigerator 12 Operating Expense 89301.00 Pest Control Expense 780.00 Professional Management Expense 14400.00 Property Sub Type Apartment Rent Control YN No Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Total Actual Rent 329220.00 Total Expenses 89307.00 Trash Expense 4236.00 Vacancy Allowance Rate 0.00 Water Sewer Expense 7200.00 Water Source Public Year Built Source Builder Zoning Lar3

    Listing provided courtesy of Manish Drona of Drona Realty & Mortgages


    Based on information from California Regional Multiple Listing Service, Inc. as of 2020-05-30T09:26:04.097. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or RE/MAX Empire Properties. Licensed in the State of California, USA.

     
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