737 E 40th, Los Angeles, CA 90011
- $699,000
- List Price
- $699,000
- Status
- ACTIVE
- MLS#
- SR26212793
- Year Built
- 1908
- Lot Size
- 8,210
- Acres
- 0.19
- Days on Market
- 1
- Property Type
- Multifamily
- Property Sub Type
- Quadruplex
Property Description
Value-add 4-unit opportunity in the high-demand 90011 corridor, just east of the 110 Freeway and south of MLK Jr. Blvd. Three detached buildings sit on a large 8,208 sq ft LARD2 lot: two separate 2-bed/1-bath houses and a duplex with two studios, totaling 2,229 sq ft of living space. The property is 100% occupied and brings in $5,225/month ($62,700/year) in gross income which translates into 6.33 CAP. Rents are below market, which gives a clear path to higher NOI as units turn over. Units are separately metered, and the owner pays only water. Parking for 7 vehicles. Minutes to USC, Exposition Park, the LA Memorial Coliseum and Downtown LA, with a Walkability Score of 78. An entry-level price for a multifamily asset with cash flow today and room to grow.
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Additional Information
- Pool Description
- None
- Sewer
- Public Sewer
- Water
- Public
- Attached Structure
- Attached
- Number Of Units Total
- 4
- Gross Scheduled Income
- $62,700
- Operating Expense
- 18434
Listing courtesy of Listing Agent: Jonathan Kim (jonathan4re@gmail.com) from Listing Office: Equity Union.
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