681 Shatto Pl

Los Angeles CA 90005

24642 sq. ft.

10759 sq. ft.

Other

Currently for sale - view listing

Overview

JNM Realty proudly presents, on an exclusive basis, 681 Shatto Pl, an extremely well-managed and maintained thirty (30) unit, non-brick apartment building in the heart of Koreatown, one (1) block from the brand new Wilshire/Vermont Metro Station and across the street from Southwestern Law School. The property features twenty-four (24) large Studio units and six (6) 1-bedroom/one-bathroom units. Twenty-four (24) units are renovated and there is over 45% potential upside for non-renovated units. Renovated units feature new kitchens, flooring, electrical systems, and new appliances. Five (5) units will be delivered vacant at close. The property has been excellently maintained over the past 12 years, resulting in an easy-to-manage tenant base and quality finishes on capital expenditures and unit renovations. The opportunity offers an astounding 6.92% going-in cap rate and only $215/sqft with 45% upside potential for non-renovated units. With the proper financing, a buyer could achieve a 9.00% cash-on-cash return based on in-place numbers. JNM Realty manages over 3,500 properties in Los Angeles and Orange County and is available to manage this asset for buyers. All offers are encouraged.

Features

30 bathrooms

24642 sq. ft. floor area

10759 sq. ft. lot size

Other

Property history for 681 Shatto Pl

2014

Sold

$839,054

22 Jul 2014

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