1913 3rd St., Los Angeles

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We are proud to present The Victorian on 3rd, an amazing multifamily opportunity located at 1901 & 1913 West 3rd Street in The City of Los Angeles, California. This unique apartment complex is comprised of *41 highly improved apartment units in two separate and distinct two-story buildings, and the addition of (1) One-Bedroom + One-Bath detached home.



The buildings are constructed of wood frame with a flat/pitched roof and stucco exterior as well as wood siding. Development for each of the buildings was completed in 1942 & 1923 respectively and encompassing a total of **±21,692 building square feet situated on two separate parcels totaling ±20,283 square feet offering a zoning of LAC2 which could be beneficial for future development.



*(34) Singles + One Bath Units

*(6) One-Bedroom + One-Bath Units

*(1) One-Bedroom + One-Bath Detached Unit



* Total unit count differs from title and was provided by Seller and is believed to be the correct legal unit count. Buyer to verify.

** Total building square footage differs from title and was provided by Seller and said to be a correct accounting of all improvement square footage including basement. Buyer to verify.

*** Currently there are ±21 parking spaces with the potential to add an additional ±3 spaces. Buyer to verify.



PROPERTY HIGHLIGHTS

+ Attractive value metrics of 6.04% Cap Rate | 9.75 GRM | $153,659 CPU

+ Excellent leverage quoted with attractive interest only financing

+ Solid day-1 cash flow and additional rental upside potential

+ Ratio Utility Billing System (RUBS) in place for many units

+ Major electrical and unit upgrades

+ Individually metered for gas and electric

+ Upgraded fire suppression system including hard-wired smoke detectors

+ 50% plus of the units tastefully remodeled

+ Complete unit appliance package of gas range, fridge, dishwasher & microwave

+ Two adjacent buildings & lots on a signalized corner

+ Separate APNs for each property & zoned LAC2 totaling +/-20,283 sq. ft. of land

+ Great candidate to capitalize on newly approved Section 8 housing voucher increases

+ Controlled intercom access and CCTV monitoring

+ On-site gated parking for 24 cars & 2 separate laundry rooms

+ Beautifully maintained and clean property