Courtesy of: Neema Ahadian 01346750 | Marcus & Millichap
Purchase Type: Sale
MLS ID: 21-677576
Days On Market: 21
Square Footage: 7,706 Sq ft
Lot size: 0.162
Property Type: Residential Income
New Construction: No
Swimming Pool: No
Address: 837 W 42Nd Pl
County: Los Angeles
City: Los Angeles
Neighborhood: Los Angeles Southwest
Built in 1927, this 10-unit property totals 7,706 SF and is located in South Los Angeles between W Vernon Ave & W Martin Luther King Blvd just south of Exposition Park & USC, a location providing easy access to Metro Expo Line, the 110 Freeway, and Downtown Los Angeles nightlife, entertainment, restaurants, and employment opportunities.This value-add investment present the investor an opportunity to capture a 19% loss-to-lease, that can achieve a pro forma CAP rate of 6.13% through further renovations when the units turn. The building features a unit mix of 7 one-bedrooms and 3 two-bedrooms, each of the units have dual entrances.The property is being offered at a 12.34 GRM and 4.41% CAP rate on current income. Ease of management as gas and electric are separately metered.Vermont Square is a fast growing, vibrant neighborhood, just southwest of Downtown Los Angeles. The subject property is within walking distance to the University of Southern California, Exposition Park...
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