$ 1,600,000
-
$1,600,000
Price -
11
Bed -
5
Bath -
4,334
SqFt
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Open House Times
- Sat. Apr. 04 at 1:00pm to 2:00pm
About the Listing OC16026 - OCYEEJUS
Exceptional Investment Opportunity To Acquire A Large Income-Producing 4-Unit Property In The High-Demand South Los Angeles / Downtown LA Rental Market. Well-Maintained Quadplex Offers 11 Bedrooms, 5 Bathrooms And Approximately 4,700 Square Feet Of Total Living Space On A 6,300± Square Foot Lot in LARD1.5-1 Zoning, Making It One Of The Larger Multifamily Assets In The Immediate Area. Unit1: 4Bed/2Bath Unit2: 3Bed/1Bath Unit3: 2Bed/1Bath Unit4: 2 Bed/1Bath. Additionally, With Rare Amenities Of 9 Total Private Parking Spaces (3 Covered Car Port Parking + 6 Private Uncovered – This Improves Tenant Retention And Value As Parking Is Sparse In The Area. Individually Separately Metered For Gas And Electricity. The Property Was Fully Rebuilt In 2006 And Has Received Recent Minor Updates, Providing Investors With The Benefit Of Modernized Construction Relative To Surrounding Vintage Housing Stock, Improved Structural Integrity, And Reduced Capital Expenditure Requirements. Interior Features: Shaker Kitchen Cabinets, Newer Paint, Newer Flooring, Newer Windows, Newer Sinks, Newer Bathroom Vanities, Newer Showers, Recessed Lighting, And Modern Fixtures. Ground Floor Laundry Area In Ground Floor Unit #879 With Access To Exterior (Could Be Transformed Into Shared Laundry With Coin-op Laundry, Adding Additional Income). The Property Is Fully Rented, Currently Generating Approximately $7,700 Per Month In Gross Rental Income, Offering Stable Cash Flow From Day One. With The Strong Demand For Affordable Housing In The 90011 Corridor, The Asset Presents A Compelling Opportunity For Continued Rental Growth Through Strategic Rent Adjustments, Improved Management, Or Unit Upgrades. Actualize The Development And Density Potential Upside With Improving Rental Income By ADU Development (2-4 ADU Possible), Carport Conversions, Redevelopment Utilizing LA And State Housing Incentives For Higher Density Housing + Transportation Area Incentives. RD1.5-1 Zoning, Transit Oriented Communities (TOC Tier 1), ZI-2374 State Enterprise Zone LA, Transit Oriented Incentive Area 1 (TOIA). Well Positioned – Very Close To USC, Future Olympics Location, Major Transportation Corridors, Retail And Employment Hubs. Ideal For Investors, 1031 Exchange Buyers, Value-Add Builders, Developers Seeking Rental Market With Prime Unit Mix In TOC Zone (8-12 Units Possible) With Rental Pro-Forma Of Approximately $27,600 Per Month After Redevelopment. Your Investment Opportunity Is Here, Call Listing Agent NOW!
Listing Highlights
Status
Active
Days on Site
17
Property Type
Residential
MLS ®
OC26056394
Year Built
2006
Total Square Footage
4,334
Lot/Acreage
0.14
Interior Details
- Bedrooms: 11
- Bathrooms: 5 Full
- Appliances: Electric Oven, Free-Standing Range, Gas Range, Microwave, Refrigerator, Range Hood
- Air Cond: Electric,Wall/Window Unit(s),Zoned
- Heating: Wall Furnace
- Fireplaces:
- Floor: Tile,Vinyl,Wood
- Above Ground Sq Ft:
- Below Ground Sq Ft: n/a
- Basement:
- Other: Breakfast Bar,Breakfast Area,Ceiling Fan(s),Eat-in Kitchen,Granite Counters,Multiple Staircases,Quartz Counters,Recessed Lighting,Storage,Bedroom on Main Level,Galley Kitchen,Main Level Primary
- Water: Public
Exterior Details
- Lot Description: Level,Near Public Transit,Rectangular Lot,Street Level,No Land Lease
- Garage Capacity: N/A
- Parking Spaces: 10
- Zoning: LARD1.5
- Roof: Shingle
- Others: Updated/Remodeled,Turnkey,Concrete,Stucco,2+ Total Units
- Sewer: Public Sewer
- Parking Features: Attached Carport,Assigned,Concrete,Covered,Carport,Driveway Level,Gated,On Site,Paved,One Space
Financial Details
- Tax Amount: N/A
- Taxes w/Assessments: N/A
- Tax/Property ID: 5114012007
- Tax Year: N/A
Payment Calculator
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Questions About..
879 E 40th Pl Los Angeles, CA 90011
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