THIS PROPERTY IS AVAILABLE FOR PURCHASE INDEPENDENTLY OR AS PART OF A 4 PROPERTY, 118 UNIT PORTFOLIO. Introducing, for the first time on market in over 20 years, a unique opportunity to purchase this four multifamily property portfolio comprised of 118 units in the heart of Los Angeles. The collection includes four large properties that sit on a total of seven parcels and almost 100K sf of land. Each building ranges from 17 to 50 units and has plenty of onsite parking, independent meters for gas and electricity, and various recent upgrades. The economics of the offering show immediate returns at the current income level. However, with market rents continuing in an upward trend, an aggressive management approach may realize the 75% upside in rental income over the holding period. South Los Angeles is one of the most resilient markets in the region with historical low vacancy rates and consistent rent growth over the same period. Section 8 vouchers are currently at $3,915 for 3-bedroom units, $3,052 for 2-bedroom units, $2,407 for 1-bedroom units, and $2,132 for studio units. The properties are strategically located near access to major freeways, employment, entertainment, and transportation options. SoFi Stadium (LA Rams), the new Intuit Dome (LA Clippers), BMO Stadium (Angel City FC), Los Angeles International Airport, are all within minutes of any of the subject properties.
Property Details
Price:
$7,100,000
MLS #:
24430909
Status:
Active
Baths:
0
Address:
520 W 120th Street
Type:
Residential Income
Neighborhood:
c36metropolitansouthwest
City:
Los Angeles
Listed Date:
Aug 22, 2024
State:
CA
ZIP:
90044
Lot Size:
39,955 sqft / 0.92 acres (approx)
Year Built:
1956
See this Listing
Mortgage Calculator
Schools
Interior
Heating
Wall Furnace
Exterior
Parking Features
Assigned
Parking Spots
50.00
Stories Total
2
Financial
Map
Community
- Address520 W 120th Street Los Angeles CA
- AreaC36 – Metropolitan Southwest
- CityLos Angeles
- CountyLos Angeles
- Zip Code90044
Similar Listings Nearby
- 10205 S Prairie Avenue
Inglewood, CA$8,100,000
3.74 miles away
- 14715 Chadron Avenue
Gardena, CA$7,795,000
3.16 miles away
- 225 W Colden Avenue
Los Angeles, CA$7,000,000
1.83 miles away
- 13919 S Normandie Avenue
Gardena, CA$6,999,000
1.59 miles away
- 3018 W 67th Street
Los Angeles, CA$6,750,000
4.48 miles away
- 1026 S Flower Street
Inglewood, CA$6,500,000
4.06 miles away
Los Angeles, CA$6,400,000
0.73 miles away
- 10303 Long Beach Boulevard
Lynwood, CA$6,099,999
4.11 miles away
- 1302 W 134th Street
Gardena, CA$6,050,000
1.25 miles away
Courtesy of Remax Commercial and Investment Realty. 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.
520 W 120th Street
Los Angeles, CA
LIGHTBOX-IMAGES