$1,625,000
We are proud to present 6200 Malabar Street – a 7-unit multifamily property located in the heart of Huntington Park, CA. Huntington Park is located within LA County’s Southeast region just 7-miles outside of DTLA, centered between the 710-, 5-, and 110-freeways. The property is located within a 10-mile drive to major employment hubs like City of Vernon, City of Commerce, and DTLA. Locally, tenants enjoy being just steps from Pacific Blvd – Huntington Park’s heaviest retail corridor providing access to a variety of retailers, convenience stores, and places to dine. Tenants also enjoy convenient access to big name retailers within a 3-mile drive like Target, Home Depot, Northgate Market, and Several Local Parks and Schools. The property offers 7 single-story, ground-level apartments, consisting of 4, 1-Bedroom and 3, 2-Bedroom units. The property sits on a 7,500+ SF lot and, in addition to housing, offers on-site garage parking and a community laundry room – all income generating attributes that are sparce for tenants in the area. The property currently generates over +/-$150,000 in rental income, with an additional +/-$5,400 of revenue via rentable garages and a shared laundry facility. With a total annual revenue of +/-$155,880, a new investor will benefit from the current 6.71% CAP Rate and 10.42 GRM. A new investor also has the rare opportunity to assume the existing debt of +/-$983,000 at a below market interest rate of 3.45%, which is fixed until mid-2029. The deal boasts an impressive in-place 8.77% Cash-on-Cash return with the assumption of the current debt.
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Listed by Justino Faaola with COMPASS (626) 914-2904
Property Type
Apartment
Status
Active
MLS Number
CV25254734
Year Built
1923
Lot Size
7,505 sq ft