1191 W 39th Pl - Apartments FOR SALE


Los Angeles, CA 90037- South Central LA
$925,000 USD
818-448-4415
1191 W 39th Pl, Los Angeles, CA for Sale
$925,000 USD
Apartments - FOR SALE
1/11
null | 5.47% Cap Rate

1191 W 39th Pl
Los Angeles, CA 90037
South Central LA


HIGHLIGHTS

  • Great South LA Location
  • Tremendous Rental Upside Potential (+40%)
  • Large Lot over 11,000 SF - Zoned LAR3-1
  • Two (2) Units Delivered Vacant
  • Bungalow-Style Units - All One-Bed / One-Bath Units
  • Walking Distance to USC (Less Than 1 Mile from Campus)

OVERVIEW

Marcus and Millichap is pleased to present a six (6) unit apartment building located at 1191 W 39th Place in Los Angeles, California. The subject property is located in a great South LA location, south of Exposition Boulevard and east of Normandie Avenue. 1191 W 39th Place is a charming 6-unit bungalow-style apartment community located directly adjacent from Exposition Park/USC. Built in 1928, this character-rich property features six (6) 1-bedroom/1-bathroom units. Two units will be delivered vacant at close, giving investors the rare opportunity to bring in market rents from day one. The standalone bungalow-style units are highly sought after by tenants, offering privacy and charm rarely found in larger multifamily buildings. The surrounding neighborhood is experiencing a surge of new development bordered by the newly built George Lucas Museum, expansion of Expo Park, and newly residential apartment buildings at 1249 W 39th Pl and 1271 W 39th Pl. This area is poised for even greater growth, making it an attractive investment opportunity in the South LA area. Situated in a great South LA Location, this property offers investors a unique opportunity to capitalize on a 40% rental upside potential, allowing for substantial income growth and a strong return on investment as the area continues to appreciate.

FOR SALE DETAILS

PRICE

$925,000 USD

PRICE/SF

$236 USD /SF

# OF UNITS

6

PRICE/UNIT

$154,167

CAP RATE

5.47%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

1191 W 39th Pl

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1928

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.26 AC

LAND SF

11,326 SF

ZONING

LAR3-1

APN/PARCEL ID

5037-008-013

ASK ABOUT THIS PROPERTY

Jason TuviaMarcus & MillichapMore Info
818-448-4415

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.

Jason TuviaMarcus & MillichapMore Info
818-448-4415

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.