1050 W 84TH Pl, Los Angeles, CA 90044

Property Description

We are pleased to present a six (6) unit apartment building located at 1050 West 84th Place in Los Angeles, California. The subject property is positioned in a solid South Los Angeles location, north of Manchester Avenue and west of Vermont Avenue. Originally built in 1939, this property contains a good unit mix of two (2) newly constructed (2022) ADU studio / one bathroom units and four (4) one bedroom / one bathroom units. Spread across two (2) buildings, all the tenants have Section 8 which guarantees in place positive initial cash flow. Located in the coveted Vermont Knolls neighborhood of South LA, the property features lovely curb appeal, a lush front yard, and a relaxing center courtyard all in a quiet residential pocket with plenty of street parking adjacent to major commercial corridors on Manchester Avenue and Vermont Avenue. Los Angeles County's new Transit Oriented Vermont-Manchester mixed-use project, which was recently awarded $20 million, is also located less than a quarter mile away from the subject property. Tenants will enjoy being just minutes away from the Ram's SoFi Stadium, USC, and Downtown LA. Within walking distance residents can find great restaurant, retail, and recreational amenities such as Wingstop, Bamboo Garden, Alfredo's Mexican Food, Smart & Final, Beauty Supply, and Hardcore Training Gym. Outdoor recreation is also available less than half a mile away at Vermont Miracle Park. Situated in a solid South Los Angeles location, this offering presents an excellent opportunity for an any investor to capitalize on an initial 5.65% cap rate in a gentrifying market of Los Angeles.