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Patricia Beattie

patricia@brivio.com +1(415) 286-8292

$1,350,000

Est. payment - /mo

6,568 Sqft Lot

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Key Details

Property Type Other Types

Sub Type Apartment

Listing Status Active

Purchase Type For Sale

MLS Listing ID GD26237013

HOA Y/N No

Year Built 1988

Lot Size 6,568 Sqft

Property Sub-Type Apartment

Property Description

We are pleased present 917 S. Catalina Street, an attractive five-unit multifamily investment opportunity with all 2-bedroom and 2-bathroom units. Situated in the heart of Los Angeles' vibrant Koreatown neighborhood. Built in 1988, the property offers an appealing combination of existing rental income, spacious unit configurations, and immediate value-add potential through the lease-up of one vacant unit.

Situated on an approximately 6,567-square-foot lot, the two-story property comprises approximately 3,972 square feet of building area and features five generously sized two-bedroom, one-and-a-half-bathroom units. The property's desirable unit mix, practical layouts, and central location make it an appealing investment for buyers seeking stable rental income with opportunities to enhance overall performance.

Currently 80% occupied, with four of the five units leased, the property generates approximately $100,824 in annual scheduled rental income, representing a 4.53% current capitalization rate. The vacant fifth unit offers an immediate opportunity to increase revenue without relying on the turnover of existing tenants. At projected market rents, annual scheduled income increases to approximately $127,824, supporting a 6.15% pro forma capitalization rate, based on estimated operating expenses and a 3% vacancy allowance.

Located in a well-established residential pocket of Koreatown, the property benefits from its proximity to Downtown Los Angeles, Wilshire Boulevard, major employment centers, restaurants, shopping, entertainment, and public transportation. The surrounding neighborhood features a blend of established multifamily buildings, residential communities, and neighborhood-serving businesses, contributing to the area's continued appeal among renters seeking convenient access to Central Los Angeles.

With its 1988 construction, five desirable two-bedroom units, existing income, and immediate lease-up potential, 917 S. Catalina Street presents a compelling opportunity for investors seeking a well-located multifamily asset with both current cash flow and meaningful potential for increased rental income.

Location

State CA

County Los Angeles

Area C17 - Mid-Wilshire

Interior

Fireplace No

Laundry None

Exterior

Pool None

Community Features Biking

Total Parking Spaces 8

Private Pool No

Building

Lot Description Rectangular Lot

Story 2

Entry Level Two

Sewer Public Sewer

Water Public

Level or Stories Two

New Construction No

Others

Senior Community No

Tax ID 5094023010

Acceptable Financing Cash, Cash to New Loan, Conventional

Listing Terms Cash, Cash to New Loan, Conventional

Special Listing Condition Standard

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Listed by Kirk Garabedian Keller Williams R. E. Services 818-298-8810, DRE #01216376

Nearby School & Business

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Patricia Beattie

+1(415) 286-8292

Broker License ID: 01405369

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917 S Catalina Los Angeles, CA 90006

Patricia Beattie

Key Details

Location

Interior

Exterior

Building

Others

Nearby School & Business

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