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$2,375,000
Est. payment /mo
10 Beds
10 Baths
6,916 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 6,916 sqft
Price per Sqft $343
MLS Listing ID 25555181
Bedrooms 10
HOA Y/N No
Year Built 1964
Lot Size 7,004 Sqft
Property Description
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 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.
Location
State CA
County Los Angeles
Area C16 - Mid Los Angeles
Zoning LARD1.5
Interior
Heating Wall Furnace
Fireplace No
Appliance Refrigerator
Laundry Common Area
Exterior
Parking Features Concrete
Total Parking Spaces 4
Building
Faces North
Story 2
Entry Level Two
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 5071013041
Special Listing Condition Standard
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Listed by Saadia 'Sam' Liberow • Marcus & Millichap