Sold: Apr 16, 2021
Address
2204 W Slauson Avenue Los Angeles, CA
Price
$ 2,170,000
Property Attributes
  • MLS#21685838
  • TypeIncome
  • CountyLOS ANGELES
  • CityLos Angeles
  • Zip90043
  • Style
  • Price$ 2,170,000
  • Bedrooms9
  • Full Bathrooms9
  • Half Bathrooms0
  • Lot Size10,890 SqFt
Listing Provided Courtesy Of:
Kimberly Roberts Stepp with Stepp Commercial.
Data Source:
California Regional MLS (CRMLS) - 25 - CA
Property Description

Slauson Manor Apartments is a vacant 9-unit building adjacent to the Crenshaw Boulevard commercial corridor. Slauson Manor Apartments is not subject to LA City rent control and provides an opportunity to either lease-up and enjoy immediate cash-flow or make cosmetic upgrades to unit interiors to achieve higher rents. Cap rates are approximately 100 basis points higher in the greater Inglewood submarket than Los Angeles as a whole, offering a potential stabilized yield of over 10%. The submarkets rent levels are below the metro-wide average and is consequently one of the few areas that have experienced rent growth since the start of the pandemic, with a YoY increase of 1.7% from 2019 to 2020. As the economy returns to pre-pandemic levels and rents continue to rise, the buildings non rent-controlled status will allow the operator to increase rents at a rate that keeps pace with the market. Built in 1981, the 6,050 square-foot courtyard-style building

Price History
1/27/2021 Listed $2,295,000
3/6/2021 5% - $2,195,000

Amenities

  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult 55+
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Primary On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Income Average in 90043

Price
AVG $1.28M
$2.17M

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