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145 E 36th Pl Los Angeles, CA 90011
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Key Details
Sold Price $1,150,000
Property Type Multi-Family
Sub Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Square Footage 2,524 sqft
Price per Sqft $455
MLS Listing ID 23-270949
Sold Date 07/24/23
Bedrooms 8
Year Built 1901
Lot Size 6,250 Sqft
Acres 0.1435
Property Sub-Type Multi-Family
Property Description
Incredible 4-unit Investment or Owner-User opportunity cash flowing at an amazing 6.6% Cap Rate and 11.1 GRM from Day 1 just minutes from USC and DTLA! Vacant & Renovated 5 Bed 2 Bath house downstairs plus 3 renovated (1 Bed/1 Bath) units upstairs. Large 6,250 SF Lot with ~10 tandem parking spaces in the back. Additional upside to 7.8% Cap Rate and 9.7 GRM on proforma. All utilities are individually metered for gas & electricity. There are plans to add 2 large Detached ADUs in the back for further upside. Over the past few years, South Los Angeles has experienced consistent expansion due to its reasonable housing prices and convenient location near Downtown LA, Sofi Stadium, USC, Culver City, and South Bay. Rental rates in South LA have surged by almost 25% since 2020. The area's low vacancy rates combined with a landlord-dominant real estate environment and abundant job opportunities nearby indicate that significant long-term growth is on the horizon for South LA.
Location
State CA
County Los Angeles
Area Downtown L.A.
Zoning LARD1.5
Rooms
Other Rooms None
Interior
Heating Wall
Cooling Ceiling Fan
Equipment Refrigerator, Range/Oven, Microwave
Exterior
Parking Features Driveway, Gated, Uncovered
Building
Story 1
Others
Special Listing Condition Standard
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Bought with Julian Nan