/// FOR SALE · EXCLUSIVE LISTING · MID-CITY
1547 S HiPoint St.
IN ESCROWMID-CITY · 12 UNITS · 1959 CHARACTER BUILD · RSO
$3,395,000
12
UNITS
9,800
BLDG SF
10,890
LOT SF
1959
YEAR BUILT
LAR3
ZONING
12.0
GRM IN-PLACE
FRONT ELEVATION
UNIT INTERIOR
COURTYARD
AERIAL / ROOF
STREET CONTEXT
/// THE STORY
12-Unit Mid-City Courtyard — Stabilized with Upside.
Well-maintained 1959 courtyard building with 14 parking spaces, mix of 1BD and 2BD units, pride-of-ownership systems, and steady tenancy. Priced at a 5.0% current cap with room to push rents on turnover.
▸14 GARAGE/CARPORT PARKING SPACES
▸COURTYARD LAYOUT, ALL COPPER PLUMBING
▸5.0% IN-PLACE CAP RATE
/// UNIT MIX & UPSIDE
UNIT TYPEIN-PLACEMARKET
1 BD / 1 BA × 8$1,749$1,950
2 BD / 2 BA × 4$2,376$2,500
MONTHLY TOTAL$23,500$25,600
RENT UPSIDE ON TURNOVER, NO ADDITIONS REQUIRED9%
/// THE NUMBERS · BOTH WAYS
IN-PLACEPRO FORMA
GROSS SCHEDULED INCOME$282,000$307,200
OPERATING EXPENSES$92,000$92,000
NET OPERATING INCOME$190,000$215,200
CAP RATE5.6%6.3%
GRM12.0411.05
/// ZONING & DEVELOPMENT
▸ZONINGLAR3
▸LOT SIZE10,890 SF
/// RENT CONTROL STATUS
▸LA RSOSUBJECT TO RSO
/// LOOKING FOR A DEAL LIKE THIS?
Talk to Shaya.
LYON STAHL INVESTMENT REAL ESTATE · DRE #01942326