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8843 Menlo Avenue, Los Angeles, California 90044, Los Angeles, 90044 - bed, bath

8843 Menlo Avenue, Los Angeles, California 90044 home-pic-0
ACTIVE$900,000
8843 Menlo Avenue, Los Angeles, California 90044
0Bed
0Bath
3,640Sqft
5,126Lot
Year Built
1964
Close
-
List price
$900K
Original List price
$900K
Price/Sqft
$247
HOA
-
Days on market
-
Sold On
-
MLS number
SB25046644
Home ConditionFair
Features
View-

About this home

We found 3 Cons,5 Pros. Rank: price - $900.0K(75th), sqft - 3640(84th), beds - undefined(50th), baths - undefined(50th).

8843 Menlo Ave is a value add 4plex located in Los Angeles priced at only $247/sf. This well maintained 4-Unit apartment building is comprised of all oversized (4) 2-Bed/1-Bath units with 77% in Rental upside! Stabilizes at a 9.47% cap rate and 7.81 GRM, this asset is ideal for any savvy investor to unlock the income potential. Built in 1964, the subject property is spread out over 3,640 Sq. Ft situated on a 5,126 Sq. Ft lot, 8843 Menlo Ave is a unique value-add opportunity in an extremely fast growing rental market of Los Angeles. 3438 McKinley is located just minutes the 110 fwy, providing easy acces to USC, Downtown LA, Gilbert Lindsay Park, Exposition Park, Lucas Museum, Art's District, The Reef, BMO Stadium, LA Live and billions of dollars worth of development pouring into the neighborhood.

Nearby schools

/10
Danny J. Bakewell, Sr., Primary Center
Public,•K•0.2mi
4/10
Manchester Avenue Elementary School
Public,•1-6•0.3mi
3/10
Ninety-Fifth Street Elementary School
Public,•K-5•0.6mi
4/10
Charles W. Barrett Elementary School
Public,•K-5•0.9mi
2/10
Dr. Owen Lloyd Knox Elementary School
Public,•K-6•1.0mi
5/10
Woodcrest Elementary School
Public,•K-5•1.4mi
5/10
Figueroa Street Elementary School
Public,•K-5•1.6mi
3/10
West Athens Elementary School
Public,•K-5•2.2mi
5/10
One Hundred Eighteenth Street School
Public,•K-5•2.3mi
2/10
Bret Harte Preparatory Middle School
Public,•6-8•0.4mi
2/10
Mary Mcleod Bethune Middle School
Public,•6-8•1.8mi
2/10
Samuel Gompers Middle School
Public,•6-8•1.8mi
3/10
John C. Fremont Senior High School
Public,•9-12•1.5mi
9/10
Middle College High School
Public,•9-12•3.2mi

Price History

Date
Event
Price
12/10/13
Sold
$480,004
09/11/12
Sold
$280,000
11/01/04
Sold
$475,000
Condition Rating
Fair
The property was built in 1964. The kitchens and bathrooms appear dated and require updates. While the property seems maintained, it shows its age and needs modernization to meet current standards. The description mentions 'value add' and 'rental upside,' suggesting the need for renovations to maximize income potential.
Pros & Cons

Pros

Value-Add Opportunity: Significant rental upside (77%) presents a strong value-add opportunity for investors.
High Cap Rate Potential: Stabilized cap rate of 9.47% indicates a potentially high return on investment.
Attractive GRM: A GRM of 7.81 suggests a favorable relationship between gross rental income and property price.
Large Unit Size: Oversized 2-bed/1-bath units offer comfortable living spaces, potentially attracting tenants.
Prime Location: Close proximity to the 110 freeway and key destinations like USC, Downtown LA, and entertainment venues enhances tenant appeal.

Cons

Age of Property: Built in 1964, the property may require updates or renovations to meet modern standards.
Potential Renovation Costs: To achieve the projected rental upside, renovations and upgrades may be necessary, incurring additional costs.
Market Dependency: The success of the investment is heavily reliant on the continued growth and demand in the Los Angeles rental market.

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