Property listed by Lyon Stahl Investment Real Estate, Inc., Sean Namigohar 310-425-9838
$845,000
This rare 3-unit apartment community offers a unique investment opportunity featuring three separate structures on a single lot, providing enhanced privacy, flexibility, and strong tenant appeal. Strategically located just minutes from Downtown Los Angeles, the property benefits from proximity to major employment centers, entertainment venues, and top educational institutions, making… Read More it highly desirable in today's rental market. The property boasts a well-balanced unit mix consisting of a spacious three-bedroom unit and additional one-bedroom bungalow-style units. The standout feature is the large, fully remodeled three-bedroom residence, which includes a dedicated living room and dining area ideal for families or tenants seeking more functional living space. This unit, along with one of the one-bedroom units, has been extensively renovated down to the studs, offering modern interiors and high-end finishes that significantly enhance rental appeal. The remodeled units feature recessed lighting, new hardwood flooring, stainless steel appliances, updated electrical systems, and upgraded plumbing. These improvements not only elevate the overall aesthetic but also reduce future maintenance costs for ownership. The modern upgrades position the property competitively within the market, allowing for premium rents and attracting quality tenants. The presence of three separate structures creates a bungalow-style living environment, which is increasingly sought after by renters looking for privacy and a more residential feel compared to traditional apartment buildings. This layout can contribute to lower tenant turnover and increased long-term occupancy. From an investment perspective, the property is offered at an attractive 6.32% cap rate, providing strong in-place cash flow. With two units already fully renovated, new ownership can benefit from immediate rental income at improved market rates while potentially enhancing the remaining unit to further increase overall returns. The property also includes five on-site parking spaces, a valuable amenity in a densely populated urban area like Los Angeles. Ample parking enhances tenant convenience and adds to the overall desirability of the asset, particularly for larger households occupying the three-bedroom unit. Location remains one of the strongest attributes of this offering. The property is situated just minutes from iconic destinations such as Crypto.com Arena and is in close proximity to the University of Southern California campus. This prime positioning ensures consistent rental demand from students, professionals, and families who value accessibility to both work and leisure destinations. Additionally, the surrounding area continues to experience ongoing growth and revitalization, further strengthening the long-term investment outlook. Easy access to major transportation routes, dining, entertainment, and cultural attractions makes this location highly attractive for a wide range of tenants. Overall, this property presents a compelling combination of modern upgrades, strong cash flow, and an excellent location. The mix of renovated and value-add components, along with the unique bungalow-style layout, provides investors with both immediate income and future upside potential. With its proximity to Downtown Los Angeles and major landmarks, this asset stands out as a rare opportunity in a competitive market. Read Less
Listing Snapshot
Days Online
16
Last Updated
Beds
5
Square Ft.
2,154
Lot Size
0.15 Acres
Year Built
1913
MLS Number
26666433
Additional Details
Building
Built in 1913, Living area: 2154.0, 3 buildings, Levels: One
Heating
None
Income
Gross Income: $845,000, Net Operating Income: $53,408
Lot
0.1459 acres
Parking
5 total parking spaces, Driveway
Taxes
Parcel Number: 5127017004, 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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