6101 S HOBART BLVD
LOS ANGELES, CA 90047
QUADRUPLEX WITH ADU PLANS FOR 2 UNITS
PROPERTY MUST CLOSE AFTER APRIL 01, 2022
OFFERING METRICS WITHOUT ADU CONVERSION
LISTING PRICE
$945,000
CAP RATE
4.28%
GRM
15.22
PRICE PER UNIT
$236,000
PRICE PER SF
$341.16
BUILDING SIZE
±2,770 SF
LAND SIZE
±6,463 SF
PROPERTY OVERVIEW
Located at the end of the cul-de-sac on South Hobart Blvd in Los Angeles, this property includes a ±2,770 SF 4-unit building with ready-to-issue plans for two ADU Units. (a 1 bed / 1 bath and a studio / 1 bath ) on a ±6,463 SF lot.
Each unit is a 1 bed / 1 bath that maintains well laid out floor plans that include two entrances, individual water heater and washer/dryers. Currently, two of the units are vacant and have been remodeled offering a new owner to reside in one of the units while cash-flowing the asset.
Recently, the owners repainted the exterior paint along with updating the landscaping.
This building is located with easy access to the 110 Freeway for easy commute. Property is located just a short 10-minute drive away from the University of Southern California main campus and a 10-minute drive from Downtown Los Angeles perfect for commuting students and tenants. This property is also located near other popular LA spots such as the Coliseum, Exposition Park and the Banc of California Stadium. In the opposite direction, a short 20-minute drive towards Inglewood is So-Fi Stadium, the Forum and other major markets and stores.
OPPORTUNITY HIGHLIGHTS
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Property is currently a ±2,770 SF apartment building on a ±6,463 SF lot. With ADU completion, total SF shall be ±3,480 SF
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Building is compromised of a (4)- 1 bedroom/1 bathroom apartment units and includes plans for an ADU garage conversion comprised of 2-units, a 1-bedroom/ 1 bathroom and a studio / 1bathroom
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Approximate capital expenditures of $100,000 to complete the conversion of garage to two units (Buyer to Verify)
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The two vacant units have been remodeled and are rent ready
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Building exterior has been repainted and two of the four units have been renovated
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Property is located just a short 10-minute drive away from the University of Southern California, perfect for school commuters
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Location provides easy access to the 110 Freeway and is just a short 20-minute drive away from Downtown Los Angeles
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Just 20-minutes in the opposite direction heading towards Inglewood is So-Fi Stadium and the Forum as well as additional major markets and stores such as a Costco Wholesale, Target and a Home Depot