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$ 3,500,000
Est. payment | /mo
31 Beds
15 Baths
11,960 SqFt
$ 3,500,000
Est. payment | /mo
31 Beds
15 Baths
11,960 SqFt
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 11,960 sqft
Price per Sqft $292
MLS Listing ID 26693507
Bedrooms 31
HOA Y/N No
Year Built 1962
Lot Size 0.523 Acres
Property Description
"Riviera" is a 15-unit, two-story garden-style apartment community located in the heart of Cudahy's strong rental market. Offered at $233,333 per unit, the property features an attractive unit mix of (1) 3-bed/1-bath and (14) 2-bed/1-bath units with detached carport parking, a combination that consistently draws and retains quality tenants in this submarket. Three vacant 2-bed/1-bath units are projected at $2,250/month market rents, providing a clear path to stabilization, while the remaining occupied units offer additional upside as below-market leases naturally turn over. At stabilized market rents, the property achieves a 7.5% cap rate and 8.45 GRM, presenting a compelling return profile for the Southeast Los Angeles market. The asset has been well maintained, featuring a newer roof, upgraded electrical panels, and manicured landscaping throughout. New ownership steps into a clean, operationally sound building with major improvements already completed. Conveniently located near major employment corridors, retail, and dining, with easy access to the I-710 and I-105 freeways, the property benefits from strong tenant demand and historically low vacancy.
Location
State CA
County Los Angeles
Area T5 - Walnutpk, Huntpk, Bell N Of Florence, And Cud
Zoning CUR3*
Interior
Heating Wall Furnace
Cooling None
Fireplace No
Exterior
Parking Features Detached Carport
Total Parking Spaces 20
Building
Entry Level Two
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 6224005012
Special Listing Condition Standard
Listed by Nicholas Petrosian Remax Commercial and Investment Realty #01462598
Nearby Locations
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