4143 Don Tomaso Dr

Investment Overview

Four-unit, all one-bedroom investment in Baldwin Hills, built in 1954 on an 8,024 SF hillside lot. Three of the four units deliver vacant, so a new owner can renovate and lease at market rents, or an owner-occupier can live in one unit and rent the others.

Investment Highlights

• Three units delivered vacant: Units #1, #2 and #3 are vacant, allowing a new owner to renovate and lease at market rents. Pre-1978 units delivered vacant may be leased at market rent under state vacancy decontrol.
• Owner-occupier opportunity: occupy an upper unit with stunning views or a lower unit with access to a large outdoor deck of roughly 450 SF.
• Rental upside: the fourth unit is occupied well below the $2,300 market rent. After lease up of the three vacant units at $2,300, the property prices to a 6.04% cap rate and 11.51 GRM, and at full market rents to 7.55% and 9.51.
• Priced below comparables: $262,500 per unit and an 11.51 GRM against sales comparable averages of $289,688 per unit and a 13.35 GRM.
• All one-bedroom unit mix: four 1-bed/1-bath units averaging 722 SF, each with a large bedroom, large full bath, large kitchen, separate living room and ample closets. The unit sizes may allow in-unit washer/dryers.
• Parking: two large garages provide four spaces at street level, with room for tandem parking behind the building.
• Low operating burden: all units are separately metered for electricity and gas, and tenants pay their own trash.
• Large 8,024 SF lot zoned LARD1.5, a privacy-friendly hillside setting that rises two levels above the street.
• Prime Baldwin Hills location: minutes from Baldwin Hills Crenshaw Plaza, the Metro K Line, Kenneth Hahn State Recreation Area, Culver City and the I-10.