9021 Compton Avenue, Los Angeles, CA 90002
List Price: $1M
Listing Status: Active
0Days on Market: 0
15 Bedrooms · 9 Bathrooms · 3,911 sq ft
Property Type: ResidentialIncome
Year Built: 1959
Lot Size: 7,030 sq ft
MLS Number: 26873509
About This Property
We are pleased to present the opportunity to acquire 9021 Compton Ave, a 5-unit multifamily investment located in the Florence-Firestone neighborhood of South Los Angeles. The property offers investors the opportunity to acquire an income-producing asset with significant capital improvements already completed, approximately 56% rental upside, and pricing below replacement cost.Originally constructed in 1959, the property consists of a two-story apartment building situated on a 7,028-square-foot lot. Originally configured as a 7-unit property, the building was legally reconfigured into its current 5-unit layout to create larger, family-oriented units. While the assessor reflects approximately 3,911 square feet, the actual building size is approximately 4,500 square feet (Buyer to Verify). The attractive unit mix consists of (1) 1-bedroom/1-bathroom units, (2) 3-bedroom/2-bathroom units, and (2) 4-bedroom/2-bathroom units, providing a highly desirable unit mix that continues to attract strong tenant demand.Current ownership has completed numerous capital improvements that significantly reduce near-term capital expenditures, including a new roof, new electrical subpanel, copper electrical wiring throughout, copper water piping serving each unit, fresh exterior paint, and renovations to two units. Additionally, individual water meters have been installed for all five units, with two units already billing water directly to the tenants, providing future ownership with the opportunity to further reduce operating expenses through utility reimbursement.The property is fully gated from both the front and rear and benefits from convenient alley access to the main parking area. On-site parking includes four covered carport spaces in addition to several open parking spaces. Investors may also explore the potential for an ADU conversion or other value-add opportunities utilizing the existing parking configuration, subject to buyer investigation and approval.Located just four blocks south of Firestone Boulevard, one block west of Alameda Street, and only one block from the Metro A Line, the property benefits from excellent access to public transportation, major employment centers, educational institutions, and neighborhood amenities, providing strong connectivity throughout Los Angeles.
