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Additional details
$ 1,600,000
Est. payment /mo
Active
879 E 40th Place Los Angeles, CA 90011
11 Beds
5 Baths
6,309 Sqft Lot
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Active
Purchase Type For Sale
MLS Listing ID OC26053122
Bedrooms 11
Lot Size 6,309 Sqft
Property Sub-Type Res Income 2-4 Units
Property Description
Exceptional Investment Opportunity To Acquire A Large Income-Producing 4-Unit Property In The High-Demand South Los Angeles / Downtown LA Rental Market. Well-Maintained Quadplex Offers 11 Bedrooms, 5 Bathrooms And Approximately 4,700 Square Feet Of Total Living Space On A 6,300 Square Foot Lot in LARD1.5-1 Zoning, Making It One Of The Larger Multifamily Assets In The Immediate Area. Unit1: 4Bed/2Bath Unit2: 3Bed/1Bath Unit3: 2Bed/1Bath Unit4: 2 Bed/1Bath. Additionally, With Rare Amenities Of 9 Total Private Parking Spaces (3 Covered Car Port Parking + 6 Private Uncovered This Improves Tenant Retention And Value As Parking Is Sparse In The Area. Individually Separately Metered For Gas And Electricity. The Property Was Fully Rebuilt In 2006 And Has Received Recent Minor Updates, Providing Investors With The Benefit Of Modernized Construction Relative To Surrounding Vintage Housing Stock, Improved Structural Integrity, And Reduced Capital Expenditure Requirements. Interior Features: Shaker Kitchen Cabinets, Newer Paint, Newer Flooring, Newer Windows, Newer Sinks, Newer Bathroom Vanities, Newer Showers, Recessed Lighting, And Modern Fixtures. Ground Floor Laundry Area In Ground Floor Unit #879 With Access To Exterior (Could Be Transformed Into Shared Laundry With Coin-op Laundry, Adding Additional Income). The Property Is Fully Rented, Currently Generating Approximately $7,700 Per Month In Gross Rental Income, Offering Stable Cash Flow From Day One. With The Strong Demand For Affordable Housing In The 90011 Corridor, The Asset Presents A Compelling Opportunity For Continued Re
Location
State CA
County Los Angeles
Zoning Builder
Direction From MARTIN LUTHER KING JR BLVD Heading EAST, Go SOUTH on MCKINLEY AVE, Then Go EAST on 40th PL, SUBJECT PROPERTY Located Middle
Interior
Cooling Wall/Window, Zoned Area(s)
Fireplace No
Exterior
View Y/N No
Building
Story 3
Level or Stories 3
Others
Senior Community No
Tax ID 5114012007
Acceptable Financing Cash, Conventional, FHA
Listing Terms Cash, Conventional, FHA
Listed by Justin Yee, DRE#01904338 eXp Realty of Southern California, Inc
NEARBY SCHOOL & BUSINESS
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