239 W 113th Street is a six-unit operator deal with day-one cash flow and visible rent upside. At the asking price of $985,000, the property is offered at $164,167 per unit and underwrites to a 6.56% current cap rate and 8.61 current GRM based on the offering financials. The deal… Read More works because the in-place income is there on day one. Scheduled gross income is $114,384, and the asset is separately metered for gas and electricity, which helps contain utility exposure. The upside is real, but it is execution-based. Current average rent is $1,589 per unit versus underwritten market rent of $1,925, with one unit at $1,000 creating a large portion of the rent gap. This is not a heavy repositioning deal. It is a cash-flowing six-unit with selective rent reset potential over time. For South LA small-balance buyers, the deal offers day-one income, separate utility metering, excess parking, and rent upside tied to turnover rather than heavy repositioning. Read Less
Courtesy of Keller Williams Coastal Prop. 562-961-1400
Listing Snapshot
Days Online
78
Last Updated
Property Type
Other
Beds
6
Square Ft.
2,376
Lot Size
0.29 Acres
Year Built
1924
MLS Number
PW26079160MR
Additional Details
Building
2,376 sq ft, Built in 1924, "Detached/No Common Walls"
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