THIS PROPERTY IS AVAILABLE FOR PURCHASE INDEPENDENTLY OR AS PART OF A 4 PROPERTY, 118 UNIT PORTFOLIO. Introducing, for the first time on market in over 20 years, a unique opportunity to purchase this four multifamily property portfolio comprised of 118 units in the heart of Los Angeles.… Read More The collection includes four large properties that sit on a total of seven parcels and almost 100K sf of land. Each building ranges from 17 to 50 units and has plenty of onsite parking, independent meters for gas and electricity, and various recent upgrades. The economics of the offering show immediate returns at the current income level. However, with market rents continuing in an upward trend, an aggressive management approach may realize the 75% upside in rental income over the holding period. South Los Angeles is one of the most resilient markets in the region with historical low vacancy rates and consistent rent growth over the same period. Section 8 vouchers are currently at $3,915 for 3-bedroom units, $3,052 for 2-bedroom units, $2,407 for 1-bedroom units, and $2,132 for studio units. The properties are strategically located near access to major freeways, employment, entertainment, and transportation options. SoFi Stadium (LA Rams), the new Intuit Dome (LA Clippers), BMO Stadium (Angel City FC), Los Angeles International Airport, are all within minutes of any of the subject properties. Read Less
Property listed by Remax Commercial and Investment Realty, Enrique Viramontes 213-817-1000
Listing Snapshot
Days Online
126
Last Updated
Property Type
Other
Beds
28
Square Ft.
11,386
Lot Size
0.43 Acres
Year Built
1939
MLS Number
24431023
30 Days Snapshot Of 90003
$589k
+1%
(avg) sold price
4
-55%
homes sold
110
+17%
(avg) days on market
Snapshot
Area Map
Additional Details
Building
Built in 1939, Building area total: 11,386, Levels: Two, Living area: 11386, 2 stories, 3 buildings
Heating
WallFurnace
Income
Gross income: $292,309, Net operating income: $167,404
Lot
0.43 acres, 18,730 square feet, Size: 18,730
Parking
17 totals parking, Assigned
Property
Zoning: LARD2
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Based on information from California Regional Multiple Listing Service, Inc. as of and/or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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