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Danielle DeCoursey

decourseyd84@gmail.com +1(585) 732-5963

$1,145,000

Est. payment - /mo

6,791 Sqft Lot

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UPDATED:

Key Details

Property Type Other Types

Sub Type Apartment

Listing Status Active

Purchase Type For Sale

MLS Listing ID SR26241254

HOA Y/N No

Year Built 1923

Lot Size 6,791 Sqft

Property Sub-Type Apartment

Property Description

Presenting a seven-unit bungalow-style multifamily investment opportunity in the Westlake/MacArthur Park neighborhood of Los Angeles. Built in 1923, the property features seven individual bungalow structures totaling approximately 3,450 square feet on an approximately 6,789-square-foot LAR4-zoned lot.

The property offers a unit mix of five one-bedroom/one-bath units and two two-bedroom/one-bath units. Improvements include a new Siemens main electrical panel and subpanels, individual water heaters for each unit, and separate gas and electric meters. Select units feature upgraded modern interiors, providing a foundation for additional improvements and a value-add investment strategy.

Investors have the opportunity to pursue targeted interior renovations, exterior enhancements, and operational improvements, with approximately 17.7% potential rental upside based on current underwriting. The LAR4 zoning may also provide future redevelopment opportunities, subject to applicable City of Los Angeles regulations, development standards, and approvals.

Situated near Olympic Boulevard and Hoover Street, the property offers convenient connections to Downtown Los Angeles, Koreatown, Pico-Union, and surrounding employment and entertainment destinations. Nearby amenities include MacArthur Park, Metro rail service, neighborhood retail, restaurants, and major transportation corridors.

With its distinctive bungalow configuration, existing income stream, and potential for additional value creation, the property presents an opportunity to acquire a multifamily asset in a centrally located Los Angeles rental market.

Location

State CA

County Los Angeles

Area C42 - Downtown L.A.

Interior

Fireplace No

Laundry None

Exterior

Parking Features On Street

Pool None

Community Features Urban

Private Pool No

Building

Lot Description Rectangular Lot

Story 1

Entry Level One

Sewer Public Sewer

Water Public

Level or Stories One

New Construction No

Others

Senior Community No

Tax ID 5136002011

Acceptable Financing Cash, Cash to New Loan, Conventional, Contract

Listing Terms Cash, Cash to New Loan, Conventional, Contract

Special Listing Condition Standard

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Listed by Raymond Rodriguez Equity Union 818-581-5829, DRE #01402283

NEARBY SCHOOL & BUSINESS

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2401 W 10th ST Los Angeles, CA 90006