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Listed by Jonathan Kim, DRE #01419100 • Equity Union
$699,000
Est. payment /mo
8,210 Sqft Lot
Active
737 E 40th Los Angeles, CA 90011
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Key Details
Property Type Multi-Family
Sub Type Fourplex
Listing Status Active
Purchase Type For Sale
MLS Listing ID CRSR26212793
Year Built 1908
Lot Size 8,210 Sqft
Property Sub-Type Fourplex
Source California Regional MLS
Property Description
Value-add 4-unit opportunity in the high-demand 90011 corridor, just east of the 110 Freeway and south of MLK Jr. Blvd. Three detached buildings sit on a large 8,208 sq ft LARD2 lot: two separate 2-bed/1-bath houses and a duplex with two studios, totaling 2,229 sq ft of living space. The property is 100% occupied and brings in $5,225/month ($62,700/year) in gross income which translates into 6.33 CAP. Rents are below market, which gives a clear path to higher NOI as units turn over. Units are separately metered, and the owner pays only water. Parking for 7 vehicles. Minutes to USC, Exposition Park, the LA Memorial Coliseum and Downtown LA, with a Walkability Score of 78. An entry-level price for a multifamily asset with cash flow today and room to grow.
Location
State CA
County Los Angeles
Area C42 - Downtown L.A.
Interior
Laundry None
Exterior
Garage Spaces 7.0
Pool None
Building
Water District - Public
Others
Tax ID 5114005026
Special Listing Condition Not Applicable
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