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$ 5,500,000
Est. payment | /mo
59 Beds
29 Baths
22,520 SqFt
$ 5,500,000
Est. payment | /mo
59 Beds
29 Baths
22,520 SqFt
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 22,520 sqft
Price per Sqft $244
MLS Listing ID 25587535
Bedrooms 59
HOA Y/N No
Year Built 1963
Lot Size 0.689 Acres
Property Description
5503 Maywood Avenue is a unique 28-unit multifamily investment opportunity located in the high-demand Southeast Los Angeles submarket of Maywood. The property features an excellent unit mix comprised of twenty-seven (27) 2-bed/1-bath apartments, built in 1963, plus one (1) detached 5-bed/2-bath single-family residence built in 1923.Offered at a compelling 9.03 GRM and 5.82% Cap Rate on current income, this asset presents both immediate cash flow and long-term upside with projected market metrics of 7.06 GRM and 8.53% Cap Rate. All units are master-metered for gas, electricity, and water, with the exception of the single-family home. The front house will be leased back to the current owner at $3,500/month for a 6-year term, and the buyer will receive an $84,000 rent credit at close of escrow to offset the first 24 months. The on-site laundry room is not currently in use, offering additional upside for future income generation. The property includes (27) open parking spaces and (1) 2-car garage, and is subject to the City of Maywood Rent Stabilization Ordinance.
Location
State CA
County Los Angeles
Area T6 - Maywood, Bell
Zoning MYM1*
Interior
Heating Wall Furnace
Cooling None
Fireplace No
Exterior
Parking Features Door-Multi, Garage, One Space
Garage Spaces 2.0
Garage Description 2.0
Total Parking Spaces 29
Building
Story 2
Entry Level Two
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 6311026015
Special Listing Condition Standard
Listed by Nicholas Petrosian Remax Commercial and Investment Realty
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Martin Cueva
Partner | Lic# 01103656