Address
837 W 42Nd Place Los Angeles, CA
Price
$ 1,995,000
Property Attributes
  • MLS#21677576
  • TypeIncome
  • CountyLOS ANGELES
  • CityLos Angeles
  • AreaLos Angeles Southwest
  • Zip90037
  • Style
  • Price$ 1,995,000
  • Bedrooms10
  • Full Bathrooms10
  • Half Bathrooms0
  • Lot Size6,970 SqFt
Listing Provided Courtesy Of:
Neema Ahadian with Marcus & Millichap.
Data Source:
CRMLS
Property Description

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 6.51% 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 11.70 GRM and 4.73% 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...

Price History
1/8/2021 Listed $2,100,000
2/18/2021 5% - $1,995,000

General Features

MLS Area C34 - Los Angeles Southwest
Parking Features None
Property Type Residential Income
Total Units 10
Zoning RD2-1

Exterior Features

Lot Size Acres 0.16
Lot Size Area 7050
Lot Size Square Feet 7050
Lot Size Units Square Feet
Number of Buildings 1

Amenities

  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult 55+
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Master On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Zip Code Average in 90037

Price
AVG $1,000K
$2M
Visits
AVG 42
88
Year Built
AVG 1928
1924
Walkscore
AVG 78
83
Data Provided by Walkscore ® not using MLS data

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