Riviera is a 15-unit, two-story garden-style apartment community located in the heart of Cudahy's strong rental market. Offered at $233,333 per unit, the property features an attractive unit mix of (1) 3-bed/1-bath and (14) 2-bed/1-bath units with detached carport parking, a combination that consistently draws and retains quality tenants in… Read More this submarket. Three vacant 2-bed/1-bath units are projected at $2,250/month market rents, providing a clear path to stabilization, while the remaining occupied units offer additional upside as below-market leases naturally turn over. At stabilized market rents, the property achieves a 7.5% cap rate and 8.45 GRM, presenting a compelling return profile for the Southeast Los Angeles market. The asset has been well maintained, featuring a newer roof, upgraded electrical panels, and manicured landscaping throughout. New ownership steps into a clean, operationally sound building with major improvements already completed. Conveniently located near major employment corridors, retail, and dining, with easy access to the I-710 and I-105 freeways, the property benefits from strong tenant demand and historically low vacancy. Read Less
Courtesy of Remax Commercial and Investment Realty 213-817-1000
Listing Snapshot
Days Online
7
Last Updated
Property Type
Other
Beds
31
Square Ft.
11,960
Lot Size
0.52 Acres
Year Built
1962
MLS Number
26693507
Additional Details
Appliances & Equipment
None
Building
11,960 sq ft, Built in 1962, Levels: Two
Cooling
None
Disclosures
None
Garage
Carport Detached
Heating
Wall
Lot
LotAcreage: 0.523, LotSizeArea: 22,783
Parking
TotalParking: 20
Property
NumberOfUnits: 15, Zoning: CUR3*
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