4020 Stevely Ave, Los Angeles, CA 90008

BRC Advisors is proud to present for sale this turn-key 12-unit apartment property located at 4020 Stevely Avenue, in the Baldwin Hills neighborhood of Los Angeles. The property has recently undergone an extensive "gut job" renovation to ten of the twelve units as well as the common areas, including: copper plumbing, electrical, kitchens, bathrooms, windows, flooring, stucco, and much more. The seller approximates a total capital expenditure cost of approximately $700,000, which also includes the completion of the city mandated seismic retrofit of the property. There are a total of seventeen(17)onsite parking spaces. The property boasts an excellent unit mix of eight (8) 2-bedroom units, two (2) 3-bedroom units, and two (2) 1-bedroom units. The units are occupied by section 8 tenants with the vast majority of the rental income being deposited into the owner's bank account on the first of every month, providing a steady and reliable income stream during these times of eviction moratoriums which allow tenants to not pay. At the asking price, a buyer can expect to achieve an impressive 5% going-in cap rate and a 9.2% total return, based on a 70% LTV loan at a 3.5% interest rate. Additionally, significant upside remains in the two units which have not yet been "turned", with their current rents at only$388 and $828 per month. The property is in a gentrifying Location just east of La Brea and south of Coliseum Street. It is located about 1 mile from the Baldwin Hills Crenshaw Plaza, recently purchased by Harridge Development with announced plans for a $1 Billion overhaul.