645 W 97th St - Triplex w/ No LA RSO & CA Rent Control 3 Unit Apartment Building Offered at $1,650,000 at a 7.39% Cap Rate Los Angeles, CA 90044

645 W. 97th is a newer construction triplex offering FHA eligibility, a vacant 4-bdrm. and 3-bath unit, and exemption from local and state rent control. Built in 2020, this well-maintained triplex is currently exempt from both the City of LA RSO and CA AB-1482. The property is not subject to a rent ceiling (buyer to verify). This gives ownership the ability to raise rents annually without percentage caps. In addition, the front 4-bed and 3-bath unit is delivered vacant at COE, qualifying the property for FHA financing when owner-occupied. The triplex consists of (3) 4-bed, 3-bath units, each avg. approx. 1,600 SF. The unit sizes and layouts support a wide range of tenant profiles, including larger households and shared living arrangements. All units are well-maintained and feature wood-style vinyl flooring, recessed lighting, central A/C, and in-unit laundry hookups. Kitchens feature updated cabinetry, tile backsplash, and ample counterspace, while bathrooms feature contemporary vanities and tilework. Tenants pay their own utilities, supporting straightforward operations and expense management. The units are arranged across two buildings on a 6,301 SF lot, with an open parking area separating the front unit from the rear duplex. This configuration provides separation between units and a more residential feel than a traditional apartment layout. With FHA eligibility, city- and state-rent-control exemptions, and newer-construction amenities, 645 W. 97th is a compelling option for buyers seeking an owner-user opportunity with minimal management headaches.