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Listed by John Stiegler II, DRE #01981597 • Lyon Stahl Investment Real Estate, Inc.
$3,099,000
Est. payment /mo
0.36 Acres Lot
UPDATED:
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID CRSB26190326
Year Built 1927
Lot Size 0.355 Acres
Source California Regional MLS
Property Description
$250,000 PRICE REDUCTION! NOW OFFERED AT $3,099,000. Reduced from $3,349,000, this 19-unit offering consists of two neighboring apartment buildings at 526-534 W 47th Street in Los Angeles. The properties feature eighteen 1-bedroom/1-bathroom units and one 3-bedroom/1-bathroom unit, with approximately 11,953 square feet of building area situated on approximately 15,467 square feet of land. Four units are currently vacant, providing an incoming investor with the opportunity to renovate and lease the units while benefiting from the property's existing income. Based on projected market rents, the property offers approximately 46% upside in scheduled rental income, increasing from approximately $356,568 to $521,400 annually. The offering consists of two separate parcels, each containing fewer than 16 units, which generally eliminates the state requirement for an on-site resident manager. Conveniently located near the 110 Freeway, USC, Exposition Park, the Los Angeles Memorial Coliseum and Downtown Los Angeles, this offering provides attractive scale, immediate vacant-unit potential and meaningful long-term rental upside.
Location
State CA
County Los Angeles
Area C42 - Downtown L.A.
Interior
Laundry None
Exterior
Pool None
Building
Water District - Public
Others
Tax ID 5018027015
Special Listing Condition Not Applicable
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