945 W 76th St, Los Angeles, CA 90044

Property Description

945 W 76th Street presents an opportunity to acquire a five-unit multifamily property offering strong in-place cash flow, value-add potential, and owner-user flexibility in a rapidly evolving South Los Angeles neighborhood. The property originally consisted of a detached single-family residence at the front of the lot and a duplex situated above two garages in the rear. The duplex has since been completely renovated, and the two garages were converted into two ADUs. Because these ADUs were constructed within a previously non-habitable space, according to the Los Angeles Housing Department (LAHD), they are not subject to rent control. Additionally, all electrical subpanels have been replaced, and the main electrical panels are brand new.There are currently 2 vacancies. The investment includes a projected 9.92% Cap Rate and 7.51 GRM after lease-up, and upside to a 12.62% Cap Rate and 6.21 GRM at market rates.Located just 0.7 miles from Evermont, a transformative mixed-use development featuring 180 affordable housing units, over 64,000 square feet of retail space, and new neighborhood amenities, the property is well positioned to benefit from continued neighborhood investment. It is also near the planned Vermont Transit Corridor, with convenient access to USC, Downtown Los Angeles, major employment centers, and the I-110 and I-105 Freeways. A 73 Walk Score, 63 Transit Score, and 64 Bike Score further support tenant demand and connectivity.