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Value Add Opportunity near USC! 550 W 41st Dr 5 Unit Apartment Building $955,000 ($191,000/Unit) Los Angeles, CA 90037
INVESTMENT HIGHLIGHTS
- Prime Location: Near major developments at Exposition Park; Lucas Museum of Narrative Art, $315M Coliseum renovation, Banc of California Stadium
- Unit Mix: (4) 1-Bedroom / 1-Bath (1) 2-Bedroom / 1-Bath
- Lot Size: 6,763 sq ft (RD 1.5 zoning)
- Strong value-add opportunity in a rapidly developing area
- Building Size: 3,120 rentable sq ft
- Fully occupied at delivery
EXECUTIVE SUMMARY
We are pleased to present 550 41st Dr in Los Angeles. This is a great value add deal near all the new developments happening near Exposition Park, such as the Lucas Museum of Narrative Art, the $315 million renovation of the Coliseum, and the Banc of California Stadium! This 5-unit apartment has a great unit mix of four 1 bedroom/1 bath units and one 2 bedroom/ 1 bath unit. The subject property is 3,120 rentable sq ft, sitting on a 6,763 sq ft RD 1.5 lot. The property will be delivered fully occupied.
PROPERTY FACTS
| Price | $955,000 | Building Class | C |
| Price Per Unit | $191,000 | Lot Size | 0.16 AC |
| Sale Type | Investment | Building Size | 3,120 SF |
| Gross Rent Multiplier | 11.47 | Average Occupancy | 100% |
| No. Units | 5 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1921 |
| Property Subtype | Apartment | Parking Ratio | 1.6/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | LARD1.5 - LARD1.5 | ||
| Price | $955,000 |
| Price Per Unit | $191,000 |
| Sale Type | Investment |
| Gross Rent Multiplier | 11.47 |
| No. Units | 5 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.16 AC |
| Building Size | 3,120 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1921 |
| Parking Ratio | 1.6/1,000 SF |
| Zoning | LARD1.5 - LARD1.5 |
AMENITIES
UNIT AMENITIES
- Cable Ready
SITE AMENITIES
- Gated
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 4 | $1,418 | - |
| 2+1 | 1 | $1,632 | - |
1 1
Walk Score®
Very Walkable (86)
Bike Score®
Very Bikeable (82)
PROPERTY TAXES
| Parcel Number | 5019-019-022 | Improvements Assessment | $201,311 |
| Land Assessment | $360,551 | Total Assessment | $561,862 |
PROPERTY TAXES
Parcel Number
5019-019-022
Land Assessment
$360,551
Improvements Assessment
$201,311
Total Assessment
$561,862
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Value Add Opportunity near USC! | 550 W 41st Dr
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