1335 E 21st St, Los Angeles, CA 90011

Property Description

This 4-unit property presents a compelling turnkey investment opportunity with room to grow, featuring a two-story, approximately 3,188 SF building on nearly 6,047 SF of LA[Q]R4-1 zoned land. All 4 units are appx 800 SF 2Br+1Ba units with 8 total parking spaces. The property benefits from stable tenants, many capital improvements, and one fully remodeled unit. Offered at 13.7 GRM and a 5.1% CAP Rate, this is a solid building with strong tenants and good bones. An ideal investment for under $1,000,000 in an area with extremely low historic vacancy, near DTLA, and with significant upside. 70% upside in rents! Additionally, the Seller has multiple feasibility studies and proposals to build up to 2 ADU's in the rear (Buyer to verify). The Seller also has a SB721 Balcony inspection report shows no needed repairs. Conveniently located near Central Avenue, the 10 Freeway, USC, Exposition Park, Downtown Los Angeles, the Fashion District, and LA LIVE, the property offers a combination of current income, value-add potential, and future development upside.