PRIVATE PROPERTY. DO NOT DISTURB TENANTS. Tours by appointment only. 10-unit multifamily property at 944 South Park View Street in the vibrant MacArthur Park neighborhood of Los Angeles. This historic building, constructed in 1909, offers a total living space of 10,598 SF on a 6,801 SF lot, and is situated in a historic neighborhood with excellent views of the Downtown Los Angeles skyline. PRIME INVESTMENT OPPORTUNITY: This property stands out with its THREE VACANT UNITS, presenting an exceptional chance for investors to acquire a value-add asset at an excellent cost basis. The vacancies include: One rent-ready one-bedroom unit: Ready for immediate leasing at current market rates. Two two-bedroom units: Vacant and in need of renovation, offering the perfect opportunity for investors to customize interiors to their liking and attract tenants of their choosing. Additionally, there is still 44% RENTAL UPSIDE available to a new owner as tenants turnover, even with the three vacancies leased at market rents. With a strong scheduled CAP rate of 6.41% and a very attractive pro-forma CAP rate of 10.72%, positive leverage may be available to qualified borrowers, making this an ideal investment for those looking to maximize returns. PROPERTY HIGHLIGHTS: Location: Just outside Downtown Los Angeles, providing easy access to major employment centers and lifestyle attractions. Accessibility: Close to freeways I-10, I-110, and I-101, connecting residents to Century City, Culver City, West Los Angeles, Hollywood, the San Fernando Valley, and the South Bay. Unit Mix: Four spacious two-bedroom, one-bathroom units and six spacious one-bedroom, one-bathroom units, offering versatility for potential tenants. Interior Features: Excellent interior lighting, large kitchens, dining rooms, bedrooms, and living rooms. Investment Potential: New apartment construction nearby indicates strong future prospects for local real estate investments. The property presents value-add opportunities through renovation, with three vacant units ready for immediate leasing at current market rates.
|
DAYS ON MARKET
|
67
|
LAST UPDATED
|
3/12/2025
|
|
YEAR BUILT
|
1909
|
COMMUNITY
|
Downtown L.A.
|
|
COUNTY
|
Los Angeles
|
STATUS
|
Conditional
|
|
PROPERTY TYPE(S)
|
Residential Income
|
|
|
|
Prior to Feb 28, '25
|
$1,650,000
|
| Feb 28, '25 - Today |
$1,590,000 |
| AIR |
Wall/Window Unit(s) |
| AIR CONDITIONING |
Yes |
| AREA |
Downtown L.A. |
| GARAGE |
None |
| HEAT |
Wall Furnace |
| LOT |
6801 sq ft |
| PARKING |
None |
| STORIES |
1 |
| STYLE |
Craftsman |
| VIEW |
Yes |
| VIEW DESCRIPTION |
City Lights |
| ZONING |
LAR4 |
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Listed with CB Richard Ellis, Inc.
The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.
Based on information from California Regional Multiple Listing Service, Inc. as of 4/3/25 4:16 PM PDT 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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