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239 W 43rd St 5 Unit Apartment Building $899,000 ($179,800/Unit) 5.26% Cap Rate Los Angeles, CA 90037
INVESTMENT HIGHLIGHTS
- Large units - possible to convert to 2 bedrooms
- Central LA loction
- $225 per sq ft
- 30 % rental upside
EXECUTIVE SUMMARY
239 43rd St is the perfect opportunity for an investor to own near Downtown and USC. Offered at $225 a sq ft, this value-add opportunity has at least 30% upside in gross monthly income. The subject property boasts amazing floor plans. The front building has four huge 1 bedroom units averaging over 900 sq ft, each with a dining room, living room, kitchen, den and bathroom. The two upper units have their own private balconies. The rear building is a very private 500 sq ft 1-bedroom/1-bath bungalow with its own yard, living room, and kitchen. At such a low price per sq ft, this is the perfect investment to own near USC, Downtown LA, Gilbert Lindsay Park, Exposition Park, Lucas Museum, Art s District, the Reef, Banc of California Stadium, LA Live, as well as billions of dollars worth of developments currently in the works!
PROPERTY FACTS
| Price | $899,000 | Building Class | C |
| Price Per Unit | $179,800 | Lot Size | 0.14 AC |
| Sale Type | Investment | Building Size | 4,800 SF |
| Cap Rate | 5.26% | Average Occupancy | 100% |
| Gross Rent Multiplier | 12 | No. Stories | 2 |
| No. Units | 5 | Year Built | 1911 |
| Property Type | Multifamily | Parking Ratio | 0.24/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Low-Rise | ||
| Zoning | RD2 - Lard2 | ||
| Price | $899,000 |
| Price Per Unit | $179,800 |
| Sale Type | Investment |
| Cap Rate | 5.26% |
| Gross Rent Multiplier | 12 |
| No. Units | 5 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.14 AC |
| Building Size | 4,800 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1911 |
| Parking Ratio | 0.24/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | RD2 - Lard2 |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Hardwood Floors
- Refrigerator
- Range
- Tub/Shower
- Porch
SITE AMENITIES
- 24 Hour Access
- Tenant Controlled HVAC
- Trash Pickup - Curbside
- Public Transportation
- Smoke Detector
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 5 | - | 600 |
Walk Score®
Very Walkable (86)
Bike Score®
Very Bikeable (88)
PROPERTY TAXES
| Parcel Number | 5111-014-020 | Improvements Assessment | $307,750 |
| Land Assessment | $689,785 | Total Assessment | $997,535 |
PROPERTY TAXES
Parcel Number
5111-014-020
Land Assessment
$689,785
Improvements Assessment
$307,750
Total Assessment
$997,535
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239 W 43rd St
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