Property Detail

4408 Lockwood

Los Angeles CA 90029

$3,200,000

Status: Active

Property Details

Description

4408 Lockwood represents a compelling value-add opportunity for a new owner to capture significant embedded upside with a substantial head start already in place. Current ownership has already turned ten of the property's twenty units and invested in major capital improvements including a new roof, plumbing upgrades, upgraded electrical, and a bolted foundation reducing near-term capex risk for a new buyer. The property is currently operating at a 6.04%cap rate and 9.17 GRM on in-place rents, reflecting an approximately 22.2% loss to lease relative to market. By continuing to turn the remaining units and capturing existing loss to lease, a new owner can grow NOI by roughly 47% and drive returns to an 8.85% cap rate and 7.18 GRM on a market basis.

Map Location

Listing provided courtesy of Douglas Steinriede of Dover Management Corp.. Last updated 2026-11-14 09:10:52.000000. Listing information © 2026 CRMLS.

The Lineup

The Lineup

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