We are pleased to present 317 W 76th St, a value add 5-unit apartment community located in the Florence neighborhood of South Los Angeles, CA. The property is comprised of an excellent unit mix of (4) 2 bed/1 Bath units and (1) 1 Bed/1 Bath unit. There are currently two Section 8 tenants in place (2 bed/ 1 bath) with one of them currently leased for $2,467. There are two units that are significantly below market, offering major upside upon turnover. Section 8 Voucher Payment Standards (per HACLA) are currently up to $3,052 for 2-bedroom units as of 2/2024. The gated property also sits on a 5,880 square feet lot with rear and side alley access and parking for 4 vehicles.317 W 76th St is centrally located just 4 miles from USC and Downtown with convenient access to the 110 freeway and walkability to local amenities along Broadway and Florence Avenue. South Los Angeles has seen significant rent growth over the past several years due to its relative housing affordability and convenient proximity to Downtown Los Angeles, Sofi Stadium, USC, Culver City, and South Bay. Rents in South LA have grown significantly over the past few years with average 2-bedroom market rents reaching $2,300-$2,600 and Section 8 Voucher Payment Standards rising up to $3,052. With low vacancy rates, landlord-favored market conditions, and numerous employment options nearby, South LA is poised for significant long-term growth.
Property Details
Price:
$925,000
MLS #:
24391935
Status:
Active
Baths:
0
Address:
317 W 76th Street
Type:
Residential Income
Neighborhood:
c37metropolitansouth
City:
Los Angeles
Listed Date:
May 14, 2024
State:
CA
ZIP:
90003
Lot Size:
5,882 sqft / 0.14 acres (approx)
Year Built:
1964
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Schools
Interior
Cooling
Wall/ Window Unit(s)
Heating
Wall Furnace
Exterior
Parking Features
None
Parking Spots
4.00
Security Features
Gated Community
Stories Total
2
Financial
Map
Community
- Address317 W 76th Street Los Angeles CA
- AreaC37 – Metropolitan South
- CityLos Angeles
- CountyLos Angeles
- Zip Code90003
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Courtesy of Rosano Partners. Disclaimer: All data relating to real estate for sale on this page comes from the Broker Reciprocity (BR) of the California Regional Multiple Listing Service. Detailed information about real estate listings held by brokerage firms other than include the name of the listing broker. Neither the listing company nor shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. The Broker providing this data believes it to be correct, but advises interested parties to confirm any item before relying on it in a purchase decision. Copyright 2024. California Regional Multiple Listing Service. All rights reserved.
317 W 76th Street
Los Angeles, CA
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