We are proud to present the opportunity to acquire a 10-unit multifamily property in the highly desirable Exposition Park neighborhood of South Los Angeles. Built in 1930, this property features a unit mix of (10) 1Bed/1Bath units, totaling 6,552 rentable square feet on a 5,409 square foot lot. The property benefits from individual gas and electric metering, reducing operating expenses and increasing efficiency for an owner. With (5) units currently vacant, this asset presents investors an opportunity to achieve market rents and stabilize quickly. The remaining (5) occupied units have an average rent of $952, offering potential for increased income through tenant turnover or negotiated relocations. Though there is no on-site parking, its central location ensures accessibility for tenants utilizing public transit and nearby amenities. The building is ideally situated near the University of Southern California (USC), the Los Angeles Memorial Coliseum, Banc of California Stadium, and numerous employment and entertainment hubs, ensuring strong rental demand.
Property Details
Price:
$1,550,000
MLS #:
25484999
Status:
Active
Baths:
0
Address:
1623 W 39th Place
Type:
Residential Income
Neighborhood:
phhtparkhillsheights
City:
Los Angeles
Listed Date:
Jan 17, 2025
State:
CA
ZIP:
90062
Lot Size:
5,409 sqft / 0.12 acres (approx)
Year Built:
1930
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Schools
Interior
Cooling
None
Heating
Wall Furnace
Exterior
Parking Features
None
Parking Spots
0.00
Stories Total
2
Financial
Map
Community
- Address1623 W 39th Place Los Angeles CA
- AreaPHHT – Park Hills Heights
- CityLos Angeles
- CountyLos Angeles
- Zip Code90062
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1623 W 39th Place
Los Angeles, CA
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