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$ 1,995,000
Est. payment /mo
Pending
8124 W 83rd ST Playa Del Rey, CA 90293
6,255 Sqft Lot
UPDATED:
02/12/2025 02:08 AM
Key Details
Property Type Multi-Family
Sub Type Mixed Use
Listing Status Pending
Purchase Type For Sale
MLS Listing ID PW25014606
HOA Y/N No
Year Built 1958
Lot Size 6,255 Sqft
Property Sub-Type Mixed Use
Property Description
8124 W 83rd Street is a well-maintained 5-unit apartment building located in the coveted area of Playa del Rey. This property features ideal unit mix, including (1) 3-bed/2-bath, (2) 2-bed/1-bath, and (2) 1-bed/1-bath units, catering to a range of tenant needs. Please do not disturb the tenants. The building features copper plumbing throughout, ensuring long-term durability and low maintenance requirements.
The property offers a strong financial return from day one, for sale at a near 5% CAP rate and 12.85 GRM w/ 27% rental upside. Through continued improvements and simple rent increases, the property has potential to operate at a 6.80% CAP rate and 10.13 GRM. With a highly desirable location with easy access to the beach, Loyola Marymount University, and Playa del Rey's and Playa Vista's retail and dining options, this property represents a prime investment opportunity in a sought-after neighborhood.
The property offers a strong financial return from day one, for sale at a near 5% CAP rate and 12.85 GRM w/ 27% rental upside. Through continued improvements and simple rent increases, the property has potential to operate at a 6.80% CAP rate and 10.13 GRM. With a highly desirable location with easy access to the beach, Loyola Marymount University, and Playa del Rey's and Playa Vista's retail and dining options, this property represents a prime investment opportunity in a sought-after neighborhood.
Location
State CA
County Los Angeles
Area C31 - Playa Del Rey
Zoning LAR3
Interior
Fireplace No
Laundry Common Area
Exterior
Garage Spaces 4.0
Garage Description 4.0
Pool None
Community Features Biking
Total Parking Spaces 4
Private Pool No
Building
Lot Description 6-10 Units/Acre
Story 2
Entry Level Two
Sewer Public Sewer
Water Public
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 4115013024
Acceptable Financing Conventional
Listing Terms Conventional
Special Listing Condition Standard
Listed by Woody Stahl • Lyon Stahl Investment Real Est • broker@lyonstahl.com