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SOLD | 3 Units near USC in Los Angeles (Actual 5.3%, Pro Forma 7.3% Cap Rate)

OVERVIEW

CLOSED ESCROW 9/25/2020
3 Units near USC in Los Angeles, Ca

1027 W. 58th Street is located near USC and Exposition Park in Los Angeles.  This nice 3 unit property offers an investor and/or owner-occupier to acquire a steady investment in a strong rental market.

This Spanish style property is comprised of two side by side units, consisting of (1) 2 bed/1 bath and (1) 1 bed/1bath units in the front, with a separate 3 bed/1 bath remodeled unit in the rear above the garaged.  The building was originally built in 1921 with a total size of 2,372 SF, sitting on 4,565 SF lot.  There are (4) garages providing ample parking spaces and an additional income stream.

Prime Location near Leimert Park, USC, Exposition Park, Inglewood Football Stadium, LAX, 110 Freeway, and Restaurants & Shops.

PROPERTY FEATURES

  • One Unit Currently Vacant and Remodeled
  • Below Market Rents w/ Month to Month Tenancy
  • Property is Subject to Los Angeles Rent Control
  • One Unit Currently being Evicted.  Call Broker for Details

SUMMARY

Offering Price:
$769,000

Total Units:
3

Building SF:
2,372 sf

Lot Size:
4,565 sf

Year Built:
1926

Zoning:
RD2