424 S. Commonwealth
- California
- Los Angeles
Property Information
- Address: 424 S. Commonwealth Avenue
- City: Los Angeles
- State: California
- Zip Code: 90020
- Units: 25
- Price: $5,200,000
Property Financials
- Price per Unit: $208,000
- Price per SF: $290
- Current Cap Rate: 5.42%
- Market Cap Rate: 6.41%
- Current GRM: 10.34
- Market GRM: 9.31
Property Description
Highlights
- Built in 1985 – Not Subject to LA RSO or Seismic Retrofitting Requirements
- 5.42% In-Place Cap Rate / 6.41% Pro Forma Cap Rate
- Approximately 18% Projected NOI Growth
- Exceptional Parking Ratio with ~$35,000 Potential Annual Income
- Strong Existing Infrastructure – Separately Metered Utilities, Copper Plumbing, Secured Parking, and On-Site Laundry Facilities
- Prime Koreatown Location – 90 Walk Score – Convenient to Extensive Dining, Retail, Entertainment, and Transit Amenities
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