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    837 W 42Nd Pl

    Los Angeles, CA 90037
    • $1,995,000
    • STATUS: Active
    • ON SITE: 48 days
    • MLS #: 21-677576
    Price Reduced
    UPDATED: 28 min ago
    $1,995,000
    • 13
      BEDS
    • 0.16
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 7,706
      SQFT
    • $259
      $/SQFT
    Neighborhood:
    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 the Combined LA/Westside Multiple Listing Service as of 2021-02-25T10:42:23.897. 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.
    www.jelmbergteam.com/homes/113088837
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    837 W 42Nd Pl Los Angeles, CA 90037

    • Price: $1,995,000
    • Status: Active
    • Updated: 28 min ago
    • MLS #: 21-677576
    13
    Beds
    0
    Baths
    0
    ½ Baths
    0.16
    Acres
    7,706
    SQFT
    $259
    $/SQFT
    1924
    Built
    Neighborhood:
    Los Angeles Southwest
    County:
    Los Angeles
    Area:
    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 Area 7050 Other Structures None Parking Garage None Total Parking 0

    Interior Features

    Baths Total 10.00 Cooling Other Equipment None Heating Other

    Property Features

    Assessed Total Value 1130425 Gross Income 170184 Gross Operating Income 161675 Like Units1 7 Like Units2 3 Net Operating Income 92713.00 Number Of Buildings 1 Number Of Units 10 Sale Type Standard Source Living Area Vendor Enhanced Source Lot Size Area Vendor Enhanced Total Annual Expense 68962 Type Of Units Apartments Water Heaters YN Yes Year Built Source Vendor Enhanced Zoning Rd2-1

    Listing provided courtesy of Neema Ahadian DRE#01346750 of Marcus & Millichap.


    Based on information from the Combined LA/Westside Multiple Listing Service as of 2021-02-25T10:42:23.897. 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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