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815 N Benton Way

Los Angeles, CA 90026
  • $2,250,000
  • STATUS: Active
  • ON SITE: 13 Days
  • MLS #: 21-106931
UPDATED: 35 min ago
$2,250,000
  • 15
    BEDS
  • 0.17
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 6,728
    SQFT
  • $334
    $/SQFT
Neighborhood:
Type:
Multi-Family
Built:
1965
County:

School Ratings & Info

Description

I am pleased to present for sale 815 North Benton Way, a nine-unit apartment community located just steps from vibrant Sunset Junction. As one of Los Angeles' most walkable neighborhoods, this submarket's popularity and rental demand has grown significantly over the years with artisanal coffee shops, headlined by popular chain, Intelligentsia, in the immediate area. It has become clear that the all-day foot traffic, desirability and growth of the area is on an undeniable trajectory. Built in 1965, Benton Way consists of three one-bedroom units and six two-bedroom units with partial on-site parking. Current tenants are paying an average rent of $841, which is $1,792 below the market rates similar properties are asking for in the immediate area. By bringing in-place rents to market rates and capturing the estimated 164% rental upside, a savvy investor can generate an unprecedented 9.01% CAP and 7.91 GRM for this investment. Investors will have the opportunity to implement a comprehensive interior and exterior renovation program to re-position the property and increase rental income. 815 North Benton is well positioned to provide remarkable rental upside and appreciation potential. ALL BUYERS MUST TOUR PRIOR TO SUBMITTING AN OFFER.

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Based on information from the Combined LA/Westside Multiple Listing Service as of 2021-12-03T10:42:40.013. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
www.deserthouseseekers.com/homes/123446334
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815 N Benton Way Los Angeles, CA 90026

  • Price: $2,250,000
  • Status: Active
  • On Site: 13 Days
  • Updated: 35 min ago
  • MLS #: 21-106931
15
Beds
0
Baths
0
½ Baths
0.17
Acres
6,728
SQFT
$334
$/SQFT
1965
Built
Neighborhood:
Silver Lake - Echo Park
County:
Los Angeles
Area:
Silver Lake - Echo Park
Property Description
I am pleased to present for sale 815 North Benton Way, a nine-unit apartment community located just steps from vibrant Sunset Junction. As one of Los Angeles' most walkable neighborhoods, this submarket's popularity and rental demand has grown significantly over the years with artisanal coffee shops, headlined by popular chain, Intelligentsia, in the immediate area. It has become clear that the all-day foot traffic, desirability and growth of the area is on an undeniable trajectory. Built in 1965, Benton Way consists of three one-bedroom units and six two-bedroom units with partial on-site parking. Current tenants are paying an average rent of $841, which is $1,792 below the market rates similar properties are asking for in the immediate area. By bringing in-place rents to market rates and capturing the estimated 164% rental upside, a savvy investor can generate an unprecedented 9.01% CAP and 7.91 GRM for this investment. Investors will have the opportunity to implement a comprehensive interior and exterior renovation program to re-position the property and increase rental income. 815 North Benton is well positioned to provide remarkable rental upside and appreciation potential. ALL BUYERS MUST TOUR PRIOR TO SUBMITTING AN OFFER.
Exterior Features

Lot Size Area 7493 Other Structures None Parking Garage Covered Parking Total Parking 8

Interior Features

Baths Total 10.00 Cooling Other Equipment Other Heating Other

Property Features

Assessed Total Value 203943 Gross Income 107721 Gross Operating Income 104489 Like Units1 1 Like Units2 1 Like Units3 1 Like Units4 1 Like Units5 1 Like Units6 1 Net Operating Income 41275.00 Number Of Buildings 1 Number Of Units 9 Sale Type Standard Source Living Area Assessor Source Lot Size Area Assessor Total Annual Expense 63214 Type Of Units Residential Year Built Source Vendor Enhanced Zoning Lard2

Listing provided courtesy of Sean Rosenzweig DRE#01406343 of Marcus & Millichap.


Based on information from the Combined LA/Westside Multiple Listing Service as of 2021-12-03T10:42:40.013. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
 
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Indian Wells CA, 92210