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$3,349,000
Est. payment /mo
0.36 Acres Lot
UPDATED:
Key Details
Property Type Other Types
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
MLS Listing ID SB26190326
HOA Y/N No
Year Built 1927
Lot Size 0.355 Acres
Property Sub-Type Apartment
Property Description
526–534 W 47th Street presents an opportunity to acquire two neighboring apartment buildings totaling 19 units in a central Los Angeles location. The properties feature eighteen 1-bedroom/1-bathroom units and one 3-bedroom/1-bathroom unit, with approximately 11,953 square feet of building area situated on approximately 15,467 square feet of land. Four units are currently vacant, providing an incoming investor with the opportunity to renovate and lease the units while benefiting from the property's existing income. Based on projected market rents, the property offers approximately 46% upside in scheduled rental income, increasing from approximately $356,568 to $521,400 annually. The offering consists of two separate parcels, each containing fewer than 16 units, which generally eliminates the state requirement for an on-site resident manager. Conveniently located near the 110 Freeway, USC, Exposition Park, the Los Angeles Memorial Coliseum and Downtown Los Angeles, this offering provides attractive scale, immediate vacant-unit potential and meaningful long-term rental upside.
Location
State CA
County Los Angeles
Area C42 - Downtown L.A.
Interior
Fireplace No
Laundry None
Exterior
Pool None
Community Features Biking, Curbs, Gutter(s), Storm Drain(s), Street Lights, Sidewalks
Private Pool No
Building
Lot Description Rectangular Lot
Story 2
Sewer Public Sewer
Water Public
New Construction No
Others
Senior Community No
Tax ID 5018027015
Acceptable Financing Cash, Cash to New Loan, Conventional, 1031 Exchange
Listing Terms Cash, Cash to New Loan, Conventional, 1031 Exchange
Special Listing Condition Standard
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Listed by John Stiegler II Lyon Stahl Investment Real Estate, Inc. 310-447-2213, DRE #01981597
NEARBY SCHOOL & BUSINESS
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