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$6,750,000
Est. payment /mo
62 Beds
37 Baths
29,504 SqFt
UPDATED:
12/05/2024 01:59 AM
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 29,504 sqft
Price per Sqft $228
MLS Listing ID 24430981
Bedrooms 62
HOA Y/N No
Year Built 1963
Lot Size 0.698 Acres
Property Description
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. 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.
Location
State CA
County Los Angeles
Area Phht - Park Hills Heights
Zoning LAR3
Interior
Heating Wall Furnace
Fireplace No
Exterior
Parking Features Assigned
Total Parking Spaces 35
Building
Story 3
Entry Level Three Or More
Level or Stories Three Or More
New Construction No
Others
Senior Community No
Tax ID 4008011001
Special Listing Condition Standard
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Listed by Enrique Viramontes • Remax Commercial and Investment Realty
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