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$ 1,150,000
Est. payment | /mo
5,118 SqFt
$ 1,150,000
Est. payment | /mo
5,118 SqFt
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 5,118 sqft
Price per Sqft $224
MLS Listing ID CL26838933
HOA Y/N No
Year Built 1929
Lot Size 6,799 Sqft
Acres 0.1561
Property Sub-Type Other
Property Description
The offering consists of a Spanish-style 4-unit building fronting 36th Street paired with a separate 3BR/2BA single-family residence at the rear of the lot. The 1-bedroom apartment units are spacious, averaging over 1,000 SF each, and the two upstairs 1-bedroom units have floor plans that easily convert to two-bedroom units. One upstairs unit is currently vacant and recently underwent extensive renovations (including new flooring, sub flooring, and a renovated kitchen and bathroom), providing immediate ability to lease at market rent without tenant relocation. Located a few blocks from USC and the LA Memorial Coliseum, site of the 2028 Olympic Games, the property offers a compelling student-housing repositioning strategy along with substantial mark-to-market rent upside on the apartment units (currently approximately 40% below market). The 3-space carport at the rear of the lot also presents potential ADU conversion opportunities for additional units and income (buyer to verify). Each unit also has its own dedicated storage space within the carport area, and the units are separately metered for gas and electricity. The upstairs 1 bedroom units also have washer-dryer hookups.
Location
State CA
County Los Angeles
Zoning LAR2
Interior
Heating Wall Furnace
Cooling None
Fireplace No
Building
New Construction No
Others
Tax ID 5041017021
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Listed by Darin Spillman • Kidder Mathews of California, Inc.
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