6605 Denver Ave, Los Angeles, CA 90044

Nov 13

$645,000
List Price

3.75%
Current CAP

4 Units

ADU PLANS SUBMITTED. 4 UNITS. DEEP SOUTH LA LOT.

The Rockwell Group is pleased to present 6605 Denver Ave, a fully occupied 4 unit apartment building in South Los Angeles. The two story building was constructed in 1953 and sits at the front of a deep 40' x 135' lot zoned LAR2, leaving a large open rear yard. The concept site plan calls for a new 2 story, 4 unit detached ADU of 1,880 square feet at the rear of the lot, with the existing building to remain.

The unit mix is four one bedroom, one bath units, all occupied, with gas and electric separately metered. In place rents average about $840 per month against an estimated stabilized rent of $1,900 per month.

THE NUMBERS

→ List price: $645,000 | $161,250 per unit | $276.59 per SF

→ Building: 1953 two story, approximately 2,332 SF on a 5,402 SF lot

→ Unit mix: 4 one bedroom units | fully occupied

→ Current: 3.75% CAP | 15.99 GRM | $40,339 gross scheduled rent

→ Stabilized: 8.48% CAP | 7.07 GRM | $91,200 gross scheduled rent

→ ADU: plans submitted for a new 2 story, 4 unit detached ADU of 1,880 SF

ADU plans are submitted and are not represented as approved or permitted. Buyers are advised to independently verify the accuracy of all information, including rent control status, zoning, square footage, ADU plans, permits, and financial projections, prior to close of escrow.

All property showings are by appointment only. Read the full write up on the blog: Just Listed: A 4 Unit Apartment Building With ADU Plans Submitted in South Los AngelesJust Listed: A 4 Unit Apartment Building With ADU Plans Submitted in South Los Angeles