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2202-2208 Michigan Ave
Los Angeles, CA 90033 Southeast Los Angeles

$7,650,000 USD

Apartments For Sale • 22,154 SF

Property Details

Property Type Apartments
Total Building Size 22,154 SF
Lot Size 0.51 AC
Building Class C
Year Built 1985
Cap Rate 5.58 %

73 Transit Score

92 Walk Score

                
                    Highlights
                
                                Meticulously Renovated Property with ±$500,000 Spent on Recent Capital Improvements
                            
                                Preferred Unit Mix Consisting of Mostly Large 2-Bedroom Units
                            
                                Excellent Location | Only One-Block from Highly Amenitized Retail Corridors on Cesar Chavez Blvd and Soto Street
                            
                                NOT Subject to Los Angeles’ Rent Stabilization Ordinance - Higher Allowable Rent Increases under the Provisions of AB 1482
                            
                                7.10% Pro Forma CAP Rate & ±19% Rental Upside
                            
                                Centrally Located with Convenient Access to I-10, I-5, I-60 & 101 Freeways with a Multitude of Amenities Nearby

Financial Summary (Actual)

Net Operating Income: $426,514 USD (2023)

Cap Rate:	5.58 %
Total Expenses:	$220,401 USD

Amenities

Laundry Facilities

Public Transportation

Commuter Rail	Drive	Walk	Distance
Union Station (91 Line - Southern California Regional Rail Authority (Metrolink), Antelope Valley Line - Southern California Regional Rail Authority (Metrolink), Orange County Line - Southern California Regional Rail Authority (Metrolink), Riverside Line - Southern California Regional Rail Authority (Metrolink), San Bernardino Line - Southern California Regional Rail Authority (Metrolink), Ventura County Line - Southern California Regional Rail Authority (Metrolink))	6 min	-	2.0 mi
Los Angeles (Coast Starlight - Amtrak, Pacific Surfliner - Amtrak, Southwest Chief - Amtrak, Texas Eagle - Amtrak)	4 min	-	2.1 mi
Transit/Subway	Drive	Walk	Distance
Soto (Gold Line - Los Angeles County Metropolitan Transportation Authority (Metro))	0 min	5 min	0.3 mi
Mariachi Plaza (Gold Line - Los Angeles County Metropolitan Transportation Authority (Metro))	1 min	11 min	0.6 mi
Pico-Aliso (Gold Line - Los Angeles County Metropolitan Transportation Authority (Metro))	2 min	19 min	1.0 mi
Airport	Drive	Walk	Distance
Bob Hope	24 min	-	17.1 mi
Los Angeles International	29 min	-	18.2 mi
Long Beach (Daugherty Field)	30 min	-	20.5 mi

Parking Details

Parking Available:	Yes
Reserved:	No
Spaces Provided:	12
Type:	Covered
Included in Rent:	Yes

Eric Chen 909-418-2071 CBRE, Inc.

2202-2208 Michigan Ave Los Angeles, CA 90033 Southeast Los Angeles