Property listed by Marcus & Millichap, Saadia 'Sam' Liberow 818-212-2700
$2,225,000
This partially stabilized asset presents a compelling ~29% rent upside, offering new ownership a path to meaningful short-term gains and long-term growth through targeted updates and strategic tenant turnover. The unit mix(2) 2-Bed/2-Bath units, (6) 1-Bed/1-Bath units, and (2) 2-Bed/2-Bath ADUs strikes a strong balance between stability and flexibility. Larger… Read More units appeal to long-term renters, while smaller units allow for more frequent rent adjustments aligned with market trends. Two income-generating, legally permitted ADUs further enhance the property's earning potential. Located in Mid-City, one of Los Angeles' most central and renter-heavy neighborhoods, the property sits between key employment hubs like Downtown LA, Culver City, Beverly Hills, and Hollywood. With over 63% of households renting and the median homebuyer needing to earn over $222K annually to afford a home, demand for rentals remains high, particularly in relatively affordable, well-located areas like this. Tenants also benefit from access to strong economic drivers, including Cedars-Sinai, USC, the Wilshire Miracle Mile, and key Metro lines, making this a strategically positioned asset for long-term investment. Read Less
Listing Snapshot
Days Online
8
Last Updated
Beds
10
Square Ft.
6,916
Lot Size
0.16 Acres
Year Built
1964
MLS Number
26812791
Additional Details
Appliances & Equipment
Refrigerator
Building
Built in 1964, Living area: 6916.0, 1 building, Building faces North, 2 stories, Levels: Two
Heating
WallFurnace
Income
Gross Income: $213,734, Net Operating Income: $135,429
Laundry
CommonArea
Lot
0.1608 acres
Parking
4 total parking spaces, Concrete
Taxes
Parcel Number: 5071013041, Zoning: LARD1.5
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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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