Arroyo Apartments

04-11-2022
07-21-2022

5745 Arroyo Dr, Los Angeles, CA 90042

  • Great Highland Park Location- Walking distance to Figueroa and Gold line.
  • Value Add Opportunity in a very hot market
  • Attractive Unit mix with All 2 Bedrooms with Parking
  • Tremendous Rental upside:  +/- 75%
  • Individually metered for Gas / Electricity
  • Easy access to Downtown LA
  • Walking distance to all Highland Park has to offer

Property Description

The Growth Investment Group is proud to present this attractive 6 Unit Value Add opportunity in one of the hottest Markets in Los Angeles- Highland Park! The building has all 2-bedroom units with 6 tandem parking spaces and is individually metered for gas and electricity. The current rents are considerably below market with rental upside being +/- 75% below comparable nicely renovated units in the area.  It is strategically located near all the Figueroa has to offer as well as the Metro Gold Line and 110 freeway with easy access to Downtown LA. These units are perfect for the buyer looking to add significant value as this pocket in Los Angeles has proven the strength of the rental market which continues to improve. The size and location of the building make this a solid hold for all size portfolios!

Unit Mix

Description No. of Units Sq ft. Avg. Monthly Rent
2 Bed / 1 Bath 6 682 $ 1,105

Key Property Information

Listing Status
Available
Listing Type
Highest & best offer
Multifamily type
Garden Style
Price
$ 1,550,000
No. of Units
6
Cap Rate
2.87%
GRM / GIM
19.46
Average Occupancy
100%
Year Built
1961
Building Size
4,092 Sq ft
Lot Size
5804 sq ft
No. of Stories
2
APN
5492-006-018
Zoning Code
RD2-1
No. of Parking Spots
12
Opportunity Zone
No
Price per unit
$ 258,333

Financial Details

Income/Expense Info
Actual
Financial Year
2021
Gross Income
$ 79,572
Effective Gross Income
$ 77,261
Operating Expenses
$ 37,139
Net Operating Income
$ 40,122
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34.104545, -118.190909

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