1069 N OXFORD AVE, LOS ANGELES, CA 90029

Property Description

About this home

1069 N Oxford Ave | 10-Unit Value-Add Multifamily near Larchmont Village. 1959-built asset totaling 7,796 SF on a 9,017 SF LARD1.5 lot, one block from the Hancock Park border in one of Los Angeles’ most renter-driven submarkets. The property features a (7) 1-bed / 1-bath and (3) 2-bed / 2-bath unit mix averaging 780 SF with 13 on-site parking spaces a premium amenity in this dense urban corridor. Every unit is currently occupied and every unit is below market, with in-place rents averaging $1,612/month against market rents of $2,150$2,717 and one unit sitting 66% below market. Offered at $2,100,000 ($210,000/unit | $269.37/SF) with a 5.42% in-place cap rate, the real story is what’s underneath a 9.10% pro forma cap and 12.79% cash-on-cash return as rents normalize through turnover.