114751 South Swall Drive, a three-unit value-add multifamily opportunity located in the highly desirable Pico-Robertson neighborhood. Offered for sale for the first time in over 50+ years, the property has been family owned and operated and remains largely in classic condition, presenting a true value-add opportunity. A new owner can… Read More unlock meaningful upside through upgrades to unit interiors and exteriors to modern standards. In-place rents trail current market levels by approximately $620 per unit, representing a loss-to-lease of roughly ~27%. All units have seen minor upgrades, providing immediate potential to increase income through a thoughtful renovation program tailored to today's renter preferences. Constructed in 1950, the property sits on a 7,485 SF lot and consists of a garden-style building totaling approximately 1,835 gross SF. The unit mix includes three (3) one-bedroom, one-bathroom units. Mature landscaping and underutilized common areas provide an opportunity to enhance curb appeal and improve the tenant's experience in this quiet, residential setting. At the rear of the property is surface parking for each unit, and a large garage that has been converted to storage for a neighboring grocery store on Pico Boulevard generating significant additional income. The rear parking and storage area provide flexibility for the future owner to either keep the current use or convert to ADU (buyer to verify), offering a future path to additional income or unit count expansion. Read Less
Property listed by NorthMarq Realty Services, Inc., 310-259-7556
Listing Snapshot
Days Online
8
Last Updated
Beds
3
Square Ft.
1,835
Lot Size
0.17 Acres
Year Built
1950
MLS Number
26828263
Additional Details
Building
Built in 1950, Living area: 1835.0, 2 buildings, Levels: One
Heating
WallFurnace
Income
Gross Income: $60,480, Net Operating Income: $48,945
Lot
0.1719 acres
Parking
DetachedCarport
Taxes
Parcel Number: 4332011038, Zoning: LAR2
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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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