We are pleased to present 1318 E. 59th Place, a four-unit multifamily investment opportunity in South Los Angeles, offered at a 9.13 GRM and 7.53% CAP rate based on current income. The property also presents meaningful rental upside, with the potential to achieve a 7.78 GRM and 9.38% CAP rate… Read More upon stabilization at market rents. NOTE: There is potential to deliver 1 unit VACANT at closing (contact broker for details). The property consists of two separate buildings totaling approximately 2,415 rentable square feet. Constructed in 1956, the improvements are situated on a 5,690 square foot LCR3YY-zoned lot and feature tandem driveway parking on both sides of the property. The unit mix includes three (3) one-bedroom/one-bathroom units and one (1) four-bedroom/one-bathroom unit, providing a desirable combination of smaller and larger floorplans. Conveniently located just east of the 110 Freeway and south of Slauson Avenue, the property benefits from excellent accessibility throughout the greater Los Angeles area. The asset is situated near the recently improved Slauson Bike Path, which has enhanced connectivity and transportation options within the surrounding community. Residents enjoy convenient access to the Slauson Avenue and Compton Avenue Metro stations, multiple bus lines, and nearby employment and retail corridors. Nearby recreational amenities include South Los Angeles Wetlands Park, South Park Recreation Center & Pool, Augustus F. Hawkins Nature Park, and Slauson Recreation Center, offering tenants a variety of outdoor and community resources. Read Less
Property listed by Kidder Mathews of California, Inc., Casey Lins 310-259-7556
Listing Snapshot
Days Online
0
Last Updated
Beds
7
Square Ft.
2,415
Lot Size
0.13 Acres
Year Built
1956
MLS Number
26848799
Additional Details
Building
Built in 1956, Living area: 2415.0, 2 buildings, 1 storey, Levels: One, Entry level: 1
Cooling
None
Disclosures
RentControl
Income
Gross Income: $104,017, Net Operating Income: $71,519
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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