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$ 1,129,000
Est. payment /mo
Price Dropped by $20K
517 W 42nd Los Angeles, CA 90037
2 Beds
4 Baths
4,800 Sqft Lot
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Active
Purchase Type For Sale
MLS Listing ID PW26183901
Bedrooms 2
Lot Size 4,800 Sqft
Property Sub-Type Res Income 2-4 Units
Property Description
NEW PRICE: $1,129,000 | 5.96% CURRENT CAP | $188,167 PER UNIT 517 W. 42nd Place is a fully occupied, renovated six-unit multifamily property in Los Angeles, offered at $1,129,000. At the new asking price, the property delivers a 5.96% current cap rate and 10.15 GRM, with approximately $111,200 in annual scheduled gross income. Renovated in 2020, the property consists of four one-bedroom units and two studios across two buildings, totaling 2,984 square feet on a 4,800-square-foot lot. Improvements include updated kitchens, bathrooms, flooring, interiors, and exterior work. The rear building is two stories with one unit on each floor. Gas and electricity are separately metered. All six units are occupied, including the recently leased final vacancy at $1,793 per month. The property offers approximately $9,480 in remaining annual rent upside based on current pro forma assumptions. At $188,167 per unit, the investment combines renovated physical condition, fully occupied income, and a manageable path to additional rental income. Located near USC and Exposition Park.
Location
State CA
County Los Angeles
Zoning Other
Direction From the 110 Fwy, exit Martin Luther King Jr Blvd. Head west on MLK Jr Blvd, north on Figueroa St, then west on W 42nd Pl. Prope
Interior
Fireplace No
Exterior
View Y/N No
Building
Story 2
Level or Stories 2
Others
Senior Community No
Tax ID 5019015012
Acceptable Financing Conventional
Listing Terms Conventional
Virtual Tour https://www.youtube.com/watch?v=sSc7uyMXwwY
Listed by Alexandro Colombo, DRE#01927702 Keller Williams Coastal Prop.