Property listed by Remax Commercial and Investment Realty, Enrique Viramontes 213-817-1000
$2,875,000
We are pleased to introduce, for the first time on market in over 20 years, 442 W 93rd Street. The property consists of an attractive mix of 1 three bedroom + two bath, 10 two bedroom + one bath, 5 one bedroom + one bath and 1 Studio on… Read More a huge 18,730 SF Lot. Plentiful parking is available onsite for tenants. Further investment highlights include a low $169,000 per unit, a 9.64 current GRM and the possibility to achieve additional income from adding multiple ADUs. The economics of the offering show immediate returns at the current income level. However, with market rents continuing in an upward trend, an aggressive management approach may realize a significant upside in rental income over the holding period. South Los Angeles is one of the most resilient markets in the region with historically low vacancy rates and consistent rent growth over the same period. Section 8 vouchers are currently at $3,528 for 3-bedroom units, $2,748 for 2-bedroom units, $2,172 for 1-bedroom units, and $1,920 for studio units. Read Less
Listing Snapshot
Days Online
7
Last Updated
Property Type
Other
Beds
29
Square Ft.
11,386
Lot Size
0.43 Acres
Year Built
1939
MLS Number
25483463
30 Days Snapshot Of 90003
$589k
0%
(avg) sold price
0
-100%
homes sold
110
0%
(avg) days on market
Snapshot
Area Map
Additional Details
Building
Built in 1939, Building area total: 11,386, Levels: Two, Living area: 11386, 2 stories, 3 buildings
Cooling
WallWindowUnits
Heating
WallFurnace
Income
Gross income: $298,356, Net operating income: $174,197
Lot
0.43 acres, 18,730 square feet, Size: 18,730
Parking
17 totals parking, Assigned
Property
Zoning: LARD2
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Based on information from California Regional Multiple Listing Service, Inc. as of and/or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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