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737 E 40th Los Angeles, CA 90011
8,211 Sqft Lot
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Quadruplex
Listing Status Active
Purchase Type For Sale
MLS Listing ID SR26212793
HOA Y/N No
Year Built 1908
Lot Size 8,211 Sqft
Property Sub-Type Quadruplex
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.
Location
State CA
County Los Angeles
Area C42 - Downtown L.A.
Interior
Fireplace No
Laundry None
Exterior
Pool None
Community Features Urban
Total Parking Spaces 7
Private Pool No
Building
Story 1
Sewer Public Sewer
Water Public
New Construction No
Others
Senior Community No
Tax ID 5114005026
Acceptable Financing Cash, Cash to New Loan
Listing Terms Cash, Cash to New Loan
Special Listing Condition Standard
Listed by Jonathan Kim Equity Union 661-312-2215, DRE #01419100
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