List Price: $695K

Listing Status: Pending

Days on Market: 40

5 Bedrooms · 4 Bathrooms · 2,272 sq ft

Property Type: ResidentialIncome

Year Built: 1922

Lot Size: 6,232 sq ft

MLS Number: 26666285

About This Property

This 4-unit value-add opportunity offers investors a rare chance to acquire a strategically located multifamily asset near Downtown Los Angeles with substantial upside potential. With over 70% projected rental upside, the property provides a clear path for increased cash flow and long-term appreciation, making it ideal for investors seeking both immediate income and future growth.The property features a unique unit mix, highlighted by a two-story front house configured as a spacious two-bedroom unit, complemented by three additional one-bedroom units on the lot. This diverse layout appeals to a broader tenant base, including small families, roommates, and individuals seeking larger living spaces in an urban setting. The existing configuration provides flexibility in leasing strategies while supporting strong rental demand in the area.Offered at a low price per unit relative to comparable assets, the property presents an attractive entry point into one of Los Angeles' most resilient rental markets. Investors have the opportunity to capitalize on below-market rents and implement a value-add strategy to bring units up to market levels, significantly increasing net operating income over time.Each unit is separately metered for gas and electric, allowing for more efficient expense management and reduced operational costs. This setup enables ownership to pass utility expenses directly to tenants, improving overall financial performance and maintaining stronger margins.One of the most compelling aspects of the property is its immediate ADU (Accessory Dwelling Unit) potential. With no assigned parking for existing tenants and ample parking availability on-site, new ownership can explore the addition of an ADU without major reconfiguration. This creates an opportunity to generate additional income and further enhance the property's overall value.The location is a key driver of the asset's appeal. Situated less than one mile from University of Southern California, the property benefits from a consistent pool of student, faculty, and staff renters. Additionally, it is in close proximity to major attractions such as Exposition Park, BMO Stadium, and other entertainment and cultural destinations. This prime positioning enhances tenant demand and supports long-term rental stability.The surrounding area continues to experience strong growth and revitalization, driven by ongoing development and infrastructure improvements. Its infill location provides convenient access to major transportation routes, employment centers, and lifestyle amenities, making it highly desirable for renters seeking both accessibility and convenience.From an investment perspective, this property offers multiple avenues for value creation. New ownership can implement interior and exterior upgrades to modernize the units, improve curb appeal, and justify rent increases. Combined with the significant rental upside and ADU potential, these enhancements can substantially boost overall returns.In summary, this property represents a compelling investment opportunity with a strong combination of location, unit mix, and upside potential. Its proximity to Downtown Los Angeles, major institutions, and popular attractions, along with its operational efficiencies and development possibilities, positions it as an attractive asset for investors looking to maximize both cash flow and long-term value.