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2680 S Barrington Ave, Los Angeles, CA 90064

$4,600,000
27
BD
28
BA
16,588
SqFt
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List Price
$4,600,000
MLS#
26107152
Year Built
1972
Bedrooms
27
Bathrooms
28
Living Sq. Ft
16,588
Lot Size
10,997
Days on Market
2
Property Type
Multifamily
Style
Mid-Century
Stories
2
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Property Description

2680 South Barrington Avenue, a 15-unit apartment building in Mar Vista offered for sale for the first time in over 40 years. Built in 1972 and held by the same ownership for more than four decades, the property is fully occupied and has completed its mandatory earthquake soft-story retrofit. At $277 per square foot, it is offered at one of the lowest price points per square foot for comparable buildings in the area. The building has an efficient unit mix of thirteen two-bedroom, two-bath units and two one-bedroom, one-bath units, with 14 parking spaces on a 10,997 SF LAR3 lot. Rents are well below market. Many of the tenancies date back a decade or more, which leaves substantial room to grow income as units turn over and are brought to market. The property is 100% occupied and is offered at a 4.6% current cap rate, with a pro forma cap rate of over 8.0% using conservative market rents at turnover. Few Westside offerings combine generational ownership, full occupancy, and this level of upside.

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Additional Information

Other Buildings
None
Pool Description
None
Heat
Other
Cooling
Other
View
City
Number of Cars in Garage
Attached, Gated Underground
Water
Public
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Courtesy of Coldwell Banker Realty, Eric Sackler - CA DRE#01057377

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