Don’t miss this very interesting one-of-a-kind opportunity in the 90037 area code. This 20,539 sq. ft. R3-zoned, street to alley multifamily lot has huge upside potential. Super low rents with approximately 50% upside. An astute investor can purchase the property for income now with the potential to build new units down the road. 8.15 GRM at Market Rents and close to a 9% CAP Rate at Market Rents. In the Tier-3 TOC with zoning allowing for the potential construction of a three-story, 25-unit buildingPrior to developing, buyers can take advantage of the desirability of owning and remodeling a much sought after property featuring bungalow units (which tenants are often willing to pay a premium rent). Residents benefit from the property’s prime location with easy access to public transportation and major freeways, commuting to Downtown Los Angeles and located within 1 mile of the U.S.C. campus. Property consists of 8 separate single-story buildings on a 20,539 sq. ft. street to alley R3 Lot. The 20,539 sq. ft. includes an approximately 5,000 sq. ft. parking area in the back (off of the alley), on which a buyer could possibly consider building ADU's. Tenants' benefit from a gated entrance front and rearThere are three large 2-bedroom units (each approximately 1,000 sq. ft.) and eight 1-bedroom units (each approximately 659 sq. ft.). Separately metered for gas and electricity Rents are super low. Even better for Investors is the fact that three of the 1-bedroom units will be delivered vacant (all in need of work) at the close of escrow. Each tenant has one allocated spot in the 50’ by 100’ gated parking lot in the back of the property. building presents an exciting opportunity to increase rents and add value. Located less than one block from Manual Arts High School.
|
DAYS ON MARKET
|
3
|
LAST UPDATED
|
3/14/2025
|
|
YEAR BUILT
|
1948
|
COMMUNITY
|
Los Angeles Southwest
|
|
COUNTY
|
Los Angeles
|
STATUS
|
Active
|
|
PROPERTY TYPE(S)
|
Residential Income
|
|
|
| AREA |
Los Angeles Southwest |
| GARAGE |
Assigned |
| HOA DUES |
0 |
| LOT |
0.47 acre(s) |
| LOT DESCRIPTION |
Lawn, Level, Near Public Transit, Rectangular Lot, Street Level |
| PARKING |
Assigned |
| POOL DESCRIPTION |
None |
| SEWER |
Public Sewer |
| STORIES |
1 |
| WATER |
Public |
| ZONING |
LAR3 |
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Listed with Lyon Stahl Investment Real Estate, 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 3/17/25 6:16 AM 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
This IDX solution is (c) Diverse Solutions 2025.
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