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The Warburton Team Brokered By EXp

andreww@gowpnow.com +1(626) 630-2141

$3,349,000

Est. payment - /mo

0.36 Acres Lot

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UPDATED:

Key Details

Property Type Other Types

Sub Type Apartment

Listing Status Active

Purchase Type For Sale

MLS Listing ID SB26190326

HOA Y/N No

Year Built 1927

Lot Size 0.355 Acres

Property Sub-Type Apartment

Property Description

526–534 W 47th Street presents an opportunity to acquire two neighboring apartment buildings totaling 19 units in a central Los Angeles location. The properties feature eighteen 1-bedroom/1-bathroom units and one 3-bedroom/1-bathroom unit, with approximately 11,953 square feet of building area situated on approximately 15,467 square feet of land. Four units are currently vacant, providing an incoming investor with the opportunity to renovate and lease the units while benefiting from the property's existing income. Based on projected market rents, the property offers approximately 46% upside in scheduled rental income, increasing from approximately $356,568 to $521,400 annually. The offering consists of two separate parcels, each containing fewer than 16 units, which generally eliminates the state requirement for an on-site resident manager. Conveniently located near the 110 Freeway, USC, Exposition Park, the Los Angeles Memorial Coliseum and Downtown Los Angeles, this offering provides attractive scale, immediate vacant-unit potential and meaningful long-term rental upside.

Location

State CA

County Los Angeles

Area C42 - Downtown L.A.

Interior

Fireplace No

Laundry None

Exterior

Pool None

Community Features Biking, Curbs, Gutter(s), Storm Drain(s), Street Lights, Sidewalks

Private Pool No

Building

Lot Description Rectangular Lot

Story 2

Sewer Public Sewer

Water Public

New Construction No

Others

Senior Community No

Tax ID 5018027015

Acceptable Financing Cash, Cash to New Loan, Conventional, 1031 Exchange

Listing Terms Cash, Cash to New Loan, Conventional, 1031 Exchange

Special Listing Condition Standard

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Listed by John Stiegler II Lyon Stahl Investment Real Estate, Inc. 310-447-2213, DRE #01981597

NEARBY SCHOOL & BUSINESS

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526 534 W 47th St Los Angeles, CA 90037