1962 W 22nd ST Los Angeles, CA 90018

Built in 1964, this unique 8-unit property totals 5,866 SF located in Mid-City's Adams-Normandie neighborhood, between Normandie Ave & S Western Ave. The building features a unit mix that includes 2 one-bedroom and 6 two-bedroom two-bath apartments.This offering presents an investor the opportunity to capture a 76% overall increase in rent with a pro forma CAP rate of 9.01% through renovations when the units turn. The property is being offered at a 13.86 GRM on current income and a low price per unit of $196,250 and a low price per square foot of $267.64. The property features 8 parking spaces and the soft story retrofit work has been completed. Furthermore, there is a community laundry room for the building.Mid-city is a densely populated neighborhood with historical and architectural significance. The demand for apartment units continues to increase year-over-year in this submarket with such close proximity to job and educational opportunities in Downtown Los Angeles, as well as the