We are pleased to offer 972 W. 47th Street, a fully occupied five-unit multifamily investment property located in Los Angeles, California 90037. The property offers an attractive unit mix consisting of three two-bedroom, one-bathroom units, and two three-bedroom, two-bathroom units. The improvements total approximately 4,300 rentable square feet and… Read More are situated on two adjacent parcels (APN #'s 5018-010-020 & 5018-010-023) totaling approximately 6,760-square-feet. The property also provides ample on-site parking for residents. Offered at $1,100,000, the property represents a stable, income-producing investment opportunity with an attractive 7.30 gross rent multiplier and a 9.07% capitalization rate. The property is currently fully occupied, providing an investor with immediate and consistent rental income from the date of acquisition. Recent capital improvements include all five of the units being recently renovated within the last five years prior to tenant move-in as well as a recently installed Ring security system. The property also allows future ADU potential with a large rear garage/storage area that can be converted to increase rental income (buyer to verify). With its strong current cash flow, favorable unit mix, recent improvements, and full occupancy, 972 W. 47th Street offers investors a compelling opportunity to acquire a stabilized multifamily asset at an attractive basis in the Los Angeles market. Read Less
Property listed by BRC Advisors- BH, Griffin White 310-259-7556
Listing Snapshot
Days Online
3
Last Updated
Beds
12
3/4 Baths
7
Square Ft.
4,300
Lot Size
0.16 Acres
Year Built
1914
MLS Number
26989593
Additional Details
Building
Built in 1914, Living area: 4300.0, 2 buildings, 2 stories, Levels: One
Cooling
None
Income
Gross Income: $150,773, Net Operating Income: $99,721
Lot
0.1552 acres
Parking
5 total parking spaces, Driveway
Property
Other structures: Sheds
Taxes
Parcel Number: 5018010020, 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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