Property Detail

Description

We are proud to present 6200 Malabar Street a 7-unit multifamily property located in the heart of Huntington Park, CA. Huntington Park is located within LA Countys Southeast region just 7-miles outside of DTLA, centered between the 710-, 5-, and 110-freeways. The property is located within a 10-mile drive to major employment hubs like City of Vernon, City of Commerce, and DTLA. Locally, tenants enjoy being just steps from Pacific Blvd Huntington Parks heaviest retail corridor providing access to a variety of retailers, convenience stores, and places to dine. Tenants also enjoy convenient access to big name retailers within a 3-mile drive like Target, Home Depot, Northgate Market, and Several Local Parks and Schools. The property offers 7 single-story, ground-level apartments, consisting of 4, 1-Bedroom and 3, 2-Bedroom units. The property sits on a 7,500+ SF lot and, in addition to housing, offers on-site garage parking and a community laundry room all income generating attributes that are sparce for tenants in the area. The property currently generates over +/-$150,000 in rental income, with an additional +/-$5,400 of revenue via rentable garages and a shared laundry facility. With a total annual revenue of +/-$155,880, a new investor will benefit from the current 6.42% CAP Rate and 10.81 GRM. A new investor also has the rare opportunity to assume the existing debt of +/-$983,000 at a below market interest rate of 3.45%, which is fixed until mid-2029. The deal boasts an impressive in-place 7.91% Cash-on-Cash return with the assumption of the current debt.