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    837 W 42Nd Place

    Los Angeles (City), CA 90037
    • $1,995,000
    • STATUS: Active
    • ON SITE: 94 days
    • ID#: 21677576
    UPDATED: 33 min ago
    $1,995,000
    • 0
      BEDS
    • 0.16
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 7,706
      SQFT
    • $259
      $/SQFT
    Type:
    Multi-Family
    Built:
    1924
    County:

    School Ratings & Info

    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...

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2021-04-12T21:28:36.923. 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 Doherty Real Estate Group | eXp Realty of California, Inc.. Licensed in the State of California, USA.
    www.bestorangecountyhomesearch.com/homes/113089665
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    837 W 42Nd Place Los Angeles (City), CA 90037

    • Price: $1,995,000
    • Status: Active
    • Updated: 33 min ago
    • ID#: 21677576
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.16
    Acres
    7,706
    SQFT
    $259
    $/SQFT
    1924
    Built
    Neighborhood:
    C34 - Los Angeles Southwest
    County:
    Los Angeles
    Area:
    C34 - Los Angeles Southwest
    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...
    Exterior Features

    Lot Size Units Square Feet Parking Features None Parking YN No

    Property Features

    Country Us Gross Income 170184.00 Gross Multiplier 12.34 Gross Operating Income 161675.00 Net Operating Income 92713.00 Senior Community YN No Special Listing Conditions Standard Total Expenses 68962.00 Zoning Rd2-1

    Listing provided courtesy of Neema Ahadian of Marcus & Millichap


    Based on information from California Regional Multiple Listing Service, Inc. as of 2021-04-12T21:28:36.923. 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 Doherty Real Estate Group | eXp Realty of California, Inc.. Licensed in the State of California, USA.
     
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    Doherty Real Estate Group | eXp Realty of California, Inc.
    27101 Puerta Real
    Mission Viejo CA, 92691