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Sean Beattie

sean@brivio.com +1(415) 716-7190

$7,500,000

Est. payment - /mo

1 Bed

2 Baths

0.31 Acres Lot

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UPDATED:

Key Details

Property Type Multi-Family

Sub Type Res Income 2-4 Units

Listing Status Active

Purchase Type For Sale

MLS Listing ID SR26043357

Bedrooms 1

Lot Size 0.308 Acres

Property Sub-Type Res Income 2-4 Units

Property Description

Casas on Cordova Street in Los Angeles is a prime mid-city investment opportunity featuring 47 updated units with a 2025 Certificate of Occupancy. Renovations in 2023 included over $2.3 million in upgrades, resulting in essentially a brand-new building. The property offers a turn-key experience with all-new plumbing, electrical systems, roof, drywall, paint, flooring, and cabinetry. With a current occupancy of 95%, the asset boasts a solid financial performance, including a current NOI of $560,670 and a CAP rate of 7.48%. The investment pro forma predicts even stronger returns, with a CAP rate of 7.86% and a cash on cash return of 9.42%. Located in a bustling neighborhood with estimated 2026 median household incomes exceeding $53,000 within a 1-mile radius, this property presents an excellent opportunity for investors seeking a stable and profitable asset in a desirable location. Complete 2025 "Gut" Renovation with New Certificate of Occupancy: This asset offers a virtually new building experience, having undergone over $2.3 million in comprehensive upgrades. The project was a full gut renovation that included all-new plumbing, electrical systems, a new roof, drywall, paint, flooring, and cabinetry. A new Certificate of Occupancy was issued in 2025, providing investors with a turn-key asset that has minimal immediate capital expenditure requirements. Strategic "Micro Unit" Model Maximizing Yield: The property is comprised of 47 units designed as high-density micro units, which are noted as being the easiest units to rent in the Los Angeles market. This model serves a critic

Location

State CA

County Los Angeles

Zoning Assessor

Direction Exit I-10 at Normandie Ave and head North until taking a right at Cordova Street

Interior

Cooling Attic Fan, Wall/Window

Fireplace No

Exterior

View Y/N No

Building

Story 2

Level or Stories 2

Others

Senior Community No

Tax ID 5075029009

Acceptable Financing Cash, Conventional, Exchange

Listing Terms Cash, Conventional, Exchange

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Listed by Logan Altman, DRE#01965826 Altman Apartments LLC

Nearby School & Business

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Sean Beattie

+1(415) 716-7190

Broker Associate | CA DRE# 01304100

Broker Associate CA DRE# 01304100

1864 W Cordova Street Los Angeles, CA 90007

Sean Beattie

Key Details

Location

Interior

Exterior

Building

Others

Nearby School & Business

Get More Information