Pleased to present the opportunity to acquire 1101 West 40th Place, a three-unit asset located in Los Angeles near the University of Southern California (USC). The building is well maintained but is perfectly suited for a comprehensive renovation that would allow investors the ability to achieve a 40% increase in cash flow.
Built in 1921, 1101 West 40th Place is composed of one two-story building and one single story house. Situated on a 6,350-square foot lot, the property features three residential units including one two-bedroom/one-bathroom house, two three-bedroom/two-bathroom units, and a bachelor/one-bathroom non-conforming unit.
Located between USC and Downtown Los Angeles, this area is best known as a young and hip scene that provides housing for university students. The area is a five minute walk to USC and the Exposition Park Metro Station. The property’s position makes for an easy drive or metro ride to Downtown Los Angeles, providing a convenient location for both students and young professionals. The subject property is also a few blocks away from the Natural History Museum, the California Science Center, and Exposition Park, which offers fun weekend activities. The property is also a prime location for sports fans, with the LA Coliseum, the Galen Center, and Banc of California Stadium all within half a mile of the property.
Given the property’s location and significant value add component, 1101 West 40th Place is well suited to provide investors with healthy returns and long-term appreciation over the long term.
