*** 3 UNITS WILL BE DELIVERED VACANT **** This exceptional five-unit multifamily property presents a rare value-add opportunity in the heart of rapidly evolving Exposition Park, one of Los Angeles’ most active rental markets e The property features an attractive and versatile unit mix consisting of one 2-bedroom, 1-bathroom unit, two expansive 5-bedroom, 2-bathroom units, one 4-bedroom, 2-bathroom unit, and one 3-bedroom, 1-bathroom unit. The large unit configurations and flexible layout create outstanding income potential for investors pursuing student housing, traditional multifamily rentals, or alternative housing strategies in a consistently high demand location .Ideally situated 10 minutes walk distance to the University of Southern California, the property benefits from close proximity to some of Los Angeles’ most iconic destinations, including the Los Angeles Memorial Coliseum, a featured venue for the upcoming 2028 Olympic Games, the highly anticipated Lucas Museum of Narrative Art located less than half a mile away, only 10 minutes walk or 0.5 miles away ; Exposition Park, the California Science Center, the historic Rose Garden, BMO Stadium, and the Expo Line Metro Station offering convenient access from Downtown Los Angeles to Santa Monica .The property also provides easy access to major freeways and public transportation, further strengthening its long-term desirability and tenant demand .Adding to its exceptional appeal, the property is sitting in a 9,894 sq ft lot and it will be delivered almost vacant, offering investors a rare opportunity to immediately reposition the property, establish market rents, and maximize future income potential .This is an outstanding opportunity to acquire a well-located multifamily asset in one of Los Angeles’ most dynamic and transformative neighborhoods.
Property Sub Type:
Mixed Use
Property Attached:
No
Lot Area:
9,897 sq. ft.919 m2
Bathrooms:
-
(Full:-, Half:-)
Year built:
1972
(Age: 54)
General Listing Location:
Los Angeles, C42 - Downtown L.A.
County Or Parish:
Los Angeles
Tenant Pays:
Electricity, Gas
Common Interest:
None
Gross Income:
$0
Gross Scheduled Income:
$165,132
Net Operating Income:
$114,640
Cap Rate %:
6.55
Rent Control:
Yes
Land Lease:
No
Electric Expense:
$2,500
Fuel Expense:
$0
Gardener expense:
2000.0
Insurance Expense:
$17,000
Maintenance Expense:
$12,385
Operating Expense:
$42,235
Pest control expense:
$1,400
Pool expense:
$0
Professional Management Expense:
$1,950
Supplies Expense:
$0
Trash Expense:
$2,500
Water and Sewer Expense:
$2,500
Vacancy Allowance:
$8,256
Vacancy Allowance Rate:
$5
Tax Lot:
15
West of freeway 110 - south of the freeway 10
View:
None
Number of Buildings:
1
# of Electric Meters:
5
# of Gas Meters:
5
# of Water Meters:
1
Community Features:
Suburban, Sidewalks
Senior Community:
No
Laundry Features:
In Kitchen
Window Features:
Double Pane Windows
Pool Features:
None
Private Pool:
No
Spa Features:
None
Lot Features:
0-1 Unit/Acre
Fireplace Features:
None
Security Features:
Carbon Monoxide Detector(s), Fire Detection System, Security Gate, Smoke Detector(s)
Levels:
Two
Num Stories:
2
Entry Level:
1
Entry Location:
1
New Constr.:
No
Common Walls:
No Common Walls
# Units:
5
Heating:
Wall Furnace
Fireplace:
No
Cooling:
Wall/Window Unit(s)
Utilities:
Electricity Available, Electricity Connected, Sewer Available, Sewer Connected, Water Available, Water Connected