737 E 40th, Los Angeles, CA 90011

$699,000

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Listed by Jonathan Kim, 818-949-8220 from Equity Union
(If provided) CoList: from

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List Price: $699,000
MLS#: CRSR26212793
Status: ACTIVE
Lot Size: 8,210
Listing Area: C42 - Downtown L.A.

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Property Description

Value-add 4-unit opportunity in the high-demand 90011 corridor, just east of the 110 Freeway and south of MLK Jr. Blvd. Three detached buildings sit on a large 8,208 sq ft LARD2 lot: two separate 2-bed/1-bath houses and a duplex with two studios, totaling 2,229 sq ft of living space. The property is 100% occupied and brings in $5,225/month ($62,700/year) in gross income which translates into 6.33 CAP. Rents are below market, which gives a clear path to higher NOI as units turn over. Units are separately metered, and the owner pays only water. Parking for 7 vehicles. Minutes to USC, Exposition Park, the LA Memorial Coliseum and Downtown LA, with a Walkability Score of 78. An entry-level price for a multifamily asset with cash flow today and room to grow.

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Additional Information

Laundry Facilities: None
Lot Size: 8,210
Neighborhood: C42 - Downtown L.A.
Numberof Units: 4
Pool Description: None
Unincorporated Yn: Yes

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The data relating to real estate for sale on this display comes in part from the Internet Data Exchange program of the MLSListingsTM MLS system. Real estate listings held by brokerage firms other than Legacy Real Estate Inc are marked with the Internet Data Exchange and detailed information about them includes the names of the listing brokers and listing agents.
Based on information from MLSListings MLS as of . All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.