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$ 950,000
Est. payment | /mo
7 Beds
5 Baths
2,415 SqFt
$ 950,000
Est. payment | /mo
7 Beds
5 Baths
2,415 SqFt
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 2,415 sqft
Price per Sqft $393
MLS Listing ID 26848799
Bedrooms 7
HOA Y/N No
Year Built 1956
Lot Size 5,688 Sqft
Property Description
We are pleased to present 1318 E. 59th Place, a four-unit multifamily investment opportunity in South Los Angeles, offered at a 9.13 GRM and 7.53% CAP rate based on current income. The property also presents meaningful rental upside, with the potential to achieve a 7.78 GRM and 9.38% CAP rate upon stabilization at market rents. NOTE: There is potential to deliver 1 unit VACANT at closing (contact broker for details). The property consists of two separate buildings totaling approximately 2,415 rentable square feet. Constructed in 1956, the improvements are situated on a 5,690 square foot LCR3YY-zoned lot and feature tandem driveway parking on both sides of the property. The unit mix includes three (3) one-bedroom/one-bathroom units and one (1) four-bedroom/one-bathroom unit, providing a desirable combination of smaller and larger floorplans. Conveniently located just east of the 110 Freeway and south of Slauson Avenue, the property benefits from excellent accessibility throughout the greater Los Angeles area. The asset is situated near the recently improved Slauson Bike Path, which has enhanced connectivity and transportation options within the surrounding community. Residents enjoy convenient access to the Slauson Avenue and Compton Avenue Metro stations, multiple bus lines, and nearby employment and retail corridors. Nearby recreational amenities include South Los Angeles Wetlands Park, South Park Recreation Center & Pool, Augustus F. Hawkins Nature Park, and Slauson Recreation Center, offering tenants a variety of outdoor and community resources.
Location
State CA
County Los Angeles
Area C42 - Downtown L.A.
Zoning LCR3YY
Interior
Cooling None
Fireplace No
Exterior
Parking Features Driveway
Total Parking Spaces 6
Building
Story 1
Entry Level One
Level or Stories One
New Construction No
Others
Senior Community No
Tax ID 6008025021
Special Listing Condition Standard
Listed by Casey Lins Kidder Mathews of California, Inc. #01902650
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