6111 Horner Street
Los Angeles, CA 90035
- – beds
- – baths
- – sqft
- 5,676 sqft lot
- 1964 build
- – on site
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The initial Capitalization Rate (CAP) of 5.10% for 6111 Horner St is notably enticing. The current owners have diligently maintained the property, consistently raising rents and revamping units with meticulous effort and style upon tenant turnover. This proactive approach has significantly boosted income over their ownership tenure. The property features a diverse unit mix, including a studio, three 2+2's, one 2+1, one 3+2 townhouse, and a 2+1 Accessory Dwelling Unit (ADU). This diversity not only mitigates risk for savvy investors but also broadens the appeal to a range of tenants, thereby enhancing the property's long-term value and ensuring a more stable and profitable investment. Additionally, select units offer private patios. Situated in the Pico-Robertson neighborhood, 6111 Horner St enjoys an exceptionally advantageous location. Central to the Westside, it provides convenient access to major employment centers in Century City and Santa Monica, with a short 1-mile drive to downtown Culver City and its vibrant entertainment and dining options. The property's front parking adds to its convenience and accessibility, accommodating up to four vehicles in four single spaces. Implementing utility bill-back as units are turned has proven successful, with 2/7 units currently on this program. Continuing this strategy ensures a fair distribution of utility expenses based on tenants' usage patterns, effectively transferring costs and further augmenting Net Operating Income (NOI) and cash flow for the new owner. Demographically, the property is situated in an affluent area, with an average household income (HHI) of $131,284 within a 1-mile radius and an even higher $133,795 within a 3-mile radius. This financial profile adds to the property's appeal and potential for sustained success.
Listed By CRMLS_CA / Saadia 'Sam' Liberow / Marcus & Millichap
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Last updated Apr 11, 2024
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MLS# 24360627 —
Walk Score®
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Walk Score is the most well-known measure of walkability for any address. It is based on the distance to a variety of nearby services and pedestrian friendliness. Walk Scores range from 0 (Car-Dependent) to 100 (Walker’s Paradise).
Bike Score®
Provided by WalkScore® Inc.
Bike Score evaluates a location's bikeability. It is calculated by measuring bike infrastructure, hills, destinations and road connectivity, and the number of bike commuters. Bike Scores range from 0 (Somewhat Bikeable) to 100 (Biker’s Paradise).
Transit Score®
Provided by WalkScore® Inc.
Transit Score measures a location's access to public transit. It is based on nearby transit routes frequency, type of route (bus, rail, etc.), and distance to the nearest stop on the route. Transit Scores range from 0 (Minimal Transit) to 100 (Rider’s Paradise).
Soundscore™
Provided by HowLoud
Soundscore is an overall score that accounts for traffic, airport activity, and local sources. A Soundscore rating is a number between 50 (very loud) and 100 (very quiet).
Sale history
Date | Event | Source | Price | % Change |
---|---|---|---|---|
4/10/24
Apr 10, 2024
|
Sold | CRMLS_CA | $2,565,000 | -1.3% |
3/6/24
Mar 6, 2024
|
Pending | CRMLS_CA | $2,600,000 | |
2/28/24
Feb 28, 2024
|
Sold Subject To Contingencies | CRMLS_CA | $2,600,000 |