1623 W 39th Pl - Apartments FOR SALE


Los Angeles, CA 90062
$1,600,000 USD
818-212-2694
1623 W 39th Pl, Los Angeles, CA for Sale
$1,600,000 USD
Apartments - FOR SALE
1/12
null | 6.43% Cap Rate

1623 W 39th Pl
Los Angeles, CA 90062


HIGHLIGHTS

  • Attractive Unit Mix: (10) 1Bed/1Bath Units
  • Significant Value- Add Potential
  • 84% Upside in Rents on Occupied Units
  • Individually Metered for Gas and Electric
  • (5) Units Delivered Vacant
  • Proximity to USC, entertainment venues, and major transportation corridors

OVERVIEW

Marcus and Millichap is proud to present the opportunity to acquire a 10-unit multifamily property in the highly desirable Exposition Park neighborhood of South Los Angeles. Built in 1930, this property features a unit mix of (10) 1Bed/1Bath units, totaling 6,552 rentable square feet on a 5,409 square foot lot. The property benefits from individual gas and electric metering, reducing operating expenses and increasing efficiency for an owner. With (5) units currently vacant, this asset presents investors an opportunity to achieve market rents and stabilize quickly. The remaining (5) occupied units have an average rent of $952, offering potential for increased income through tenant turnover or negotiated relocations. Though there is no on-site parking, its central location ensures accessibility for tenants utilizing public transit and nearby amenities. The building is ideally situated near the University of Southern California (USC), the Los Angeles Memorial Coliseum, Banc of California Stadium, and numerous employment and entertainment hubs, ensuring strong rental demand.

FOR SALE DETAILS

PRICE

$1,600,000 USD

PRICE/SF

$198 USD /SF

# OF UNITS

10

PRICE/UNIT

$160,000

CAP RATE

6.43%

% LEASED

50%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1930

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.13 AC

LAND SF

5,462 SF

ZONING

LAR2

APN/PARCEL ID

5035-017-023

ASK ABOUT THIS PROPERTY

Sevak KeshishianThe SK Group of Marcus & MillichapMore Info
818-212-2694

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Sevak KeshishianThe SK Group of Marcus & MillichapMore Info
818-212-2694

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