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$ 1,129,000
Est. payment | /mo
4,800 Sqft Lot
$ 1,129,000
Est. payment | /mo
4,800 Sqft Lot
Key Details
Property Type Other Types
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
MLS Listing ID PW26183901
HOA Y/N No
Year Built 1924
Lot Size 4,800 Sqft
Property Sub-Type Apartment
Property Description
NEW PRICE: $1,129,000 | 5.96% CURRENT CAP | $188,167 PER UNIT
517 W. 42nd Place is a fully occupied, renovated six-unit multifamily property in Los Angeles, offered at $1,129,000. At the new asking price, the property delivers a 5.96% current cap rate and 10.15 GRM, with approximately $111,200 in annual scheduled gross income.
Renovated in 2020, the property consists of four one-bedroom units and two studios across two buildings, totaling 2,984 square feet on a 4,800-square-foot lot. Improvements include updated kitchens, bathrooms, flooring, interiors, and exterior work. The rear building is two stories with one unit on each floor. Gas and electricity are separately metered.
All six units are occupied, including the recently leased final vacancy at $1,793 per month. The property offers approximately $9,480 in remaining annual rent upside based on current pro forma assumptions.
At $188,167 per unit, the investment combines renovated physical condition, fully occupied income, and a manageable path to additional rental income. Located near USC and Exposition Park.
517 W. 42nd Place is a fully occupied, renovated six-unit multifamily property in Los Angeles, offered at $1,129,000. At the new asking price, the property delivers a 5.96% current cap rate and 10.15 GRM, with approximately $111,200 in annual scheduled gross income.
Renovated in 2020, the property consists of four one-bedroom units and two studios across two buildings, totaling 2,984 square feet on a 4,800-square-foot lot. Improvements include updated kitchens, bathrooms, flooring, interiors, and exterior work. The rear building is two stories with one unit on each floor. Gas and electricity are separately metered.
All six units are occupied, including the recently leased final vacancy at $1,793 per month. The property offers approximately $9,480 in remaining annual rent upside based on current pro forma assumptions.
At $188,167 per unit, the investment combines renovated physical condition, fully occupied income, and a manageable path to additional rental income. Located near USC and Exposition Park.
Location
State CA
County Los Angeles
Area C34 - Los Angeles Southwest
Interior
Fireplace No
Laundry None
Exterior
Pool None
Community Features Street Lights, Sidewalks, Urban
Private Pool No
Building
Lot Description 6-10 Units/Acre
Story 2
Sewer Public Sewer
Water Public
New Construction No
Others
Senior Community No
Tax ID 5019015012
Energy Description 2000.0
Acceptable Financing Conventional
Listing Terms Conventional
Special Listing Condition Standard
Virtual Tour https://www.youtube.com/watch?v=sSc7uyMXwwY
Lease Land No
Listed by Alexandro Colombo Keller Williams Coastal Prop. 310-978-7950, DRE #01927702
NEARBY SCHOOL & BUSINESS