737 E 40th
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. Call Jonathan Kim for any questions or showing.
Broker Details
Equity Union (818) 631-1660
MLS ID: F207094370 State License Number: 01419100
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | 2-4 Units |
| Price: | $699,000 |
| No. of Units: | 4 |
| Year Built: | 1908 |
| Opportunity Zone: | No |
| Price per unit: | $174,750 |
| Number of Bedrooms: | 4 |
| Number of Bathrooms: | 4 |
ID: 3yd-MRMLSCA-SR26212793
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