List Price: $3.5M

Listing Status: Active

Days on Market: 7

31 Bedrooms · 15 Bathrooms · 11,960 sq ft

Property Type: ResidentialIncome

Year Built: 1962

Lot Size: 22,783 sq ft

MLS Number: 26693507

About This Property

"Riviera" is a 15-unit, two-story garden-style apartment community located in the heart of Cudahy's strong rental market. Offered at $233,333 per unit, the property features an attractive unit mix of (1) 3-bed/1-bath and (14) 2-bed/1-bath units with detached carport parking, a combination that consistently draws and retains quality tenants in this submarket. Three vacant 2-bed/1-bath units are projected at $2,250/month market rents, providing a clear path to stabilization, while the remaining occupied units offer additional upside as below-market leases naturally turn over. At stabilized market rents, the property achieves a 7.5% cap rate and 8.45 GRM, presenting a compelling return profile for the Southeast Los Angeles market. The asset has been well maintained, featuring a newer roof, upgraded electrical panels, and manicured landscaping throughout. New ownership steps into a clean, operationally sound building with major improvements already completed. Conveniently located near major employment corridors, retail, and dining, with easy access to the I-710 and I-105 freeways, the property benefits from strong tenant demand and historically low vacancy.

Property Photos