663 W 21st Street, Los Angeles, CA 90007
List Price: $595K
Listing Status: Active
0Days on Market: 0
4 Bedrooms · 3 Bathrooms · 2,376 sq ft
Property Type: ResidentialIncome
Year Built: 1928
Lot Size: 2,148 sq ft
MLS Number: 26762587
About This Property
Prime investment opportunity near the heart of Downtown Los Angeles and the highly sought-after USC area! Welcome to 633 W 21st Street, a well-maintained three-unit residential income property offering strong rents, updated interiors, low operating costs, and exceptional long-term upside. Nestled in a high-demand rental corridor west of the 110 Freeway, north of Adams Blvd, south of Washington Blvd, and between Figueroa & Hoover, this location provides unbeatable access to USC, Exposition Park, LA Coliseum, Banc of California Stadium, Downtown LA job centers, public transit, and major freeways.This two-story building features an excellent unit mix ideal for stable cash flow: one 3-bedroom/3-bath unit, and two 1-bedroom/1-bath units. The property delivers a combined monthly rent of $5,887, producing $70,644 in annual gross income, supported by a strong 8% cap rate and 8.8 GRMa rare find in this location and price segment. Current rents: 1BR @ $1,510, 1BR @ $1,673, and 3BR @ $2,740. Units are in move-in condition with remodeled interiors and modern finishes. Building is separately metered for electricity and gas, reducing expenses and simplifying management.This property is FHA-eligible, making it an outstanding opportunity for first-time buyers seeking to live in one unit and let rental income offset the mortgage. Investors will appreciate the low maintenance structure, strong in-place rents, and consistent rental demand driven by proximity to USC, DTLA employment hubs, LA Metro stations, and an ongoing shortage of quality housing in the area.Additional highlights include:* Easy to show with cooperative tenants* Updated interior conditions across all units* Stable occupancy with reliable rent collection* Potential for rental upside with future turnover* High walkability to food, retail, cafes, and transit* Minutes to Exposition Park, Natural History Museum, Lucas Museum site, and major redevelopment zones* Close to major transportation corridors including 110, 10, and 105 freeways* Strong long-term appreciation trends surrounding USC and DTLAWhether you are an investor seeking a high-yield cash-flowing asset or an owner-occupier looking for an FHA-approved opportunity in one of LA's most dynamic neighborhoods, 633 W 21st Street checks all the boxes. A true cash cow with growth potential, strategic location, remodeled units, and excellent financial performance.Don't miss this rare chance to own a turnkey triplex in a booming rental market. Contact listing agent to schedule a showing or to obtain full financials.
