748 E 42ND Street

    Los Angeles (City), CA 90011
    • $800,000
    • STATUS: Active Under Contract
    • ON SITE: 139 days
    • ID#: 20543770
    Under Contract
    UPDATED: 59 min ago
    $800,000
    • 0
      BEDS
    • 0.12
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1956
    County:

    School Ratings & Info

    Description

    The Subject property is a part of a 5-property portfolio, which is a true value-add investment opportunity located throughout Los Angeles totaling 24 units; the properties are located among South Park and South Los Angeles neighborhoods. The subject properties present an impressive unit mix throughout consisting of 22 one-bedrooms and 2 two-bedrooms; the majority of the units are currently at below market rents offering an investor a true value-add opportunity and the chance to increase cash flow dramatically through renovations. The portfolio is being offered at a low price per unit of $150,417 blended; significant loss-to-lease of over 43%. With current rents below market and the subject properties being just 4-6 units, unit turnover and the achievement of market rents over time will dramatically increase the income and value of each property on an individual basis.Each subject property is located within densely populated submarkets of Los Angeles with rising rents year-over-ye

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2020-06-02T18:28:36.113. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or RE/MAX Empire Properties. Licensed in the State of California, USA.

    www.inlandempiresold.com/homes/102296592

    748 E 42ND Street Los Angeles (City), CA 90011

    • Price: $800,000
    • Status: Active Under Contract
    • Updated: 59 min ago
    • ID#: 20543770
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.12
    Acres
    1956
    Built
    Neighborhood:
    C42 - Downtown L.A.
    County:
    Los Angeles
    Area:
    C42 - Downtown L.A.
    Property Description
    The Subject property is a part of a 5-property portfolio, which is a true value-add investment opportunity located throughout Los Angeles totaling 24 units; the properties are located among South Park and South Los Angeles neighborhoods. The subject properties present an impressive unit mix throughout consisting of 22 one-bedrooms and 2 two-bedrooms; the majority of the units are currently at below market rents offering an investor a true value-add opportunity and the chance to increase cash flow dramatically through renovations. The portfolio is being offered at a low price per unit of $150,417 blended; significant loss-to-lease of over 43%. With current rents below market and the subject properties being just 4-6 units, unit turnover and the achievement of market rents over time will dramatically increase the income and value of each property on an individual basis.Each subject property is located within densely populated submarkets of Los Angeles with rising rents year-over-ye
    Exterior Features

    Lot Size Source Assessor Lot Size Units Square Feet Parking Features Uncovered Parking YN Yes

    Property Features

    Gross Income 4600.00 Gross Multiplier 14.49 Gross Operating Income 53540.00 Net Operating Income 27568.00 Senior Community YN No Special Listing Conditions Standard Total Actual Rent 4572.00 Vacancy Allowance Rate 0.00 Zoning Lar2

    Listing provided courtesy of Neema Ahadian of Marcus & Millichap


    Based on information from California Regional Multiple Listing Service, Inc. as of 2020-06-02T18:28:36.113. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or RE/MAX Empire Properties. Licensed in the State of California, USA.

     
    RE/MAX Empire Properties
    street
    Hemet CA, 92545