Contacts

Rick Applebaum

Morgan Skenderian Investment Real Estate Group

(949) 432-6954

Property Details

Property Type Multi-Family
Property Size 5,515 SF
Units 9
Lot Size 0.17 Acre
Property Tenancy Multi-Tenant
Year Built 19401954
Date Updated Mar 11, 2024

Located in Downtown L.A. near the city's civic and cultural center, Chinatown is one of L.A.'s most popular tourist destinations. Chinatown celebrated its grand opening in June 1938 as "New Chinatown" - L.A.'s first Chinatown was razed to make way for Union Station. The first such neighborhood in the U.S. that was owned by Chinese residents, Chinatown is experiencing modernization from trendy new restaurants, art galleries, and Bruce Lee's former studio.Morgan Skenderian Investment Real Estate Group is pleased to present 960-968 Yale Street, a well-maintained nine-unit apartment building located in Los Angeles (Chinatown). This opportunity, which is situated over two separate parcels, is comprised of (3) bachelor units, (3) one-bedroom/one-bathroom single-story units, (1) three-bedroom/one-bath single-story unit, and (2) four-bedroom/two-bathroom units. Throughout the years, current ownership has upgraded all of the interiors and the exterior including new roof(s), new windows, new exterior paint, upgraded kitchens and bathrooms, and new flooring. Priced at a 6.8% cap rate on current numbers, this is one of the best opportunities in the marketplace.

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Highlights

HIGHLY MOTIVATED SELLER. ALL OFFERS TO BE CONSIDERED AND BEST OFFER TO BE ACCEPTED
Tremendous Chinatown Location
9.72 GRM & 6.8% CAP Rate on Current Rents with Massive Upside
14.1% Projected Cash Flow on Market Rents
Two Separate Parcels
Upgraded Interiors
New Roof, Windows, & Exterior Paint

Getting around

92/100
Walk Score ®
85/100
Transit Score ®
55/100
Bike Score ®

Powered by Walk Score ®

Location

City Los Angeles, CA
Neighborhood Chinatown
Zip Code 90012
Market Los Angeles

Points of Interest

Chinatown Station

0.24 miles
Chinatown

0.26 miles
Union Station

0.76 miles
Los Angeles Union Station

0.79 miles
Civic Center/Grand Park

0.84 miles
Pershing Square

1.29 miles
Pershing Square

1.37 miles
Lincoln/Cypress

1.43 miles
Pico/Aliso

1.50 miles
7th Street/Metro Center

1.67 miles

Shell

0.14 miles
Chevron

0.57 miles
76

0.67 miles
United Oil

1.07 miles
76

1.16 miles
USA Gasoline

1.32 miles
76

1.50 miles
USA Gasoline

1.50 miles
Andy's Gas Station

1.53 miles
Chevron

1.54 miles

Bamboo Plaza Parking Lot

0.13 miles
El Pueblo Lot 3

0.61 miles
El Pueblo Lot 2

0.61 miles
Union Station Visitor Lot B

0.68 miles
Union Station Visitor Lot D

0.72 miles
El Pueblo Lot 1

0.72 miles
El Pueblo Lot 4

0.77 miles
LADWP Employee Parking Only

0.78 miles
Division 13 Bus Operations and Maintenance Facility

0.80 miles
El Pueblo Lot 5

0.81 miles

The Royal Pagoda

0.14 miles
Best Western Plus Dragon Gate Inn

0.23 miles
Metro Plaza Hotel

0.55 miles
Super 8 by Wyndham Los Angeles Downtown

0.81 miles
Knights Inn Los Angeles

0.87 miles
Kawada Hotel

1.08 miles
DoubleTree by Hilton Hotel Los Angeles Downtown

1.13 miles
Little Tokyo Hotel

1.14 miles
New Daimaru Hotel

1.16 miles
Miyako Hotel

1.18 miles

Ai Hoa Supermarket

0.18 miles
Bob's Market

0.77 miles
Marukai Market

1.14 miles
Little Tokyo Mall

1.19 miles
Smart & Final

1.42 miles
Fallas Paredes

1.43 miles
Little Tokyo Market Place

1.51 miles
Vons

1.57 miles
Grocery Outlet

1.61 miles
Los Angeles Jewelry center

1.62 miles

In-Depth Research Available for this Property

Access more in-depth information about this property — including ownership, tenant details, property characteristics and transaction history, along with local market insights and much more — on CommercialEdge.

Map of Property

960-968 Yale Street