1846 Cordova St, Los Angeles, CA 90007

Built in 1959, this 8-unit property totals 5,280 SF located in Mid-City's Harvard Heights, between Normandie Ave & S Mariposa Ave, just south of Washington Blvd. The building features a unit mix of exclusively two-bed one-bath apartments. This offering presents an investor the opportunity to acquire a value-add asset with a 37% loss-to-lease and a pro forma CAPrate of 7.99% through renovations when the units turn. The property is being offered at a 14.18 GRM on current income and a low price per unit of $215,625.Furthermore, there are 8 parking spaces for the building secured by a gated entrance. Mid-city is a densely populated neighborhood with historical and architectural significance. The demand for apartment units in this neighborhood continues to increase year-over-year due to the centralized location with convenient access to the 10 Freeway and transportation options within walking distance.