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$1,875,000
Est. payment /mo
9 Beds
9 Baths
5,927 SqFt
UPDATED:
12/25/2024 01:07 PM
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 5,927 sqft
Price per Sqft $316
MLS Listing ID 24418789
Bedrooms 9
HOA Y/N No
Year Built 1962
Lot Size 6,756 Sqft
Property Description
**2nd Price Reduction** 4313 S Main St presents a phenomenal value-add opportunity within South Los Angeles, near Exposition Park and the Coliseum. While some renovations have already been done to this beautiful property, tremendous value remains to be uncovered in continuing renovations and conversion from 1 to 2 bedrooms for the additional vacant units as well as the addition of 2 ADU units that have already begun the permit process. Built as an 8 unit, the property currently has the benefit of 5 recent vacancies with the potential for more. A 2-bedroom, 2-story townhouse unit has just been completely renovated and is rent-ready. Plans are in place to convert most of the remaining vacancies to 2-bedroom units as well as build an additional two ADU units in the rear carport. Upon lease up at current Section 8 rates, the after-cost CAP rate on this property is pushing 8% with additional upside in turning the remaining occupied units. This offers a buyer looking for long-term stable cash flow an ideal opportunity. The 5 current vacant units will be delivered Rent Ready!
Location
State CA
County Los Angeles
Area C42 - Downtown L.A.
Zoning LAC2
Interior
Heating Central
Fireplace No
Appliance Refrigerator, Washer
Exterior
Parking Features Assigned, Controlled Entrance
Community Features Gated
Building
Faces East
Story 2
Entry Level Multi/Split
Level or Stories Multi/Split
New Construction No
Others
Senior Community No
Tax ID 5111012003
Security Features Gated Community
Special Listing Condition Standard
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Listed by Tim Steuernol • NAI Capital Commercial Inc.
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HomeSmart Realty West
Broker | License ID: DRE#1905908
Broker License ID: DRE#1905908