Description
Located at 1723-1725 W 52nd Street in the rapidly evolving neighborhood of South Los Angeles, this cash-flowing duplex with a converted garage offers an existing 7.80% cap rate and 8.86 GRM. The building’s current configuration generates strong rents, as the previous owner added 5 bathrooms, kitchenettes, and exterior entrances to the front building and detached garage. Priced to sell as a duplex, a new owner will benefit from a property with 5 legal units and additional square footage once the ADU registrations are completed.
The current owner is in the process of registering 3 additional units for a total of 5 units. A junior ADU will be attached to the back of the original duplex building. The former garage will become 2 detached ADUs. Each unit can enjoy its own assigned parking space at the front of the property.
Currently, the property has 5 units rented as studios. There are 2 vacant studio units and 1 vacant 2-bedroom, 1-bathroom unit. The property can be delivered vacant, allowing a new owner to renovate the vacant units or rent them out in their current condition. This blended strategy is ideal for the savvy investor looking to capitalize on strong cash from day one as well as potentially add value through renovated units, legalizing non-conforming square footage, and/or adding new ADU units.
*Buyers are responsible to conduct their own investigations and verify all information. Neither Seller nor Broker makes any warrants, guarantees nor representations toward the accuracy of the information that is provided for reference purposes only.
Property Features:
- List Price: $899,000
- Building Sq.Ft: ±1,827 SF
- Lot Size Sq.Ft.: ±5,460 SF
- Zoning: LAR2
- Unit Mix:
- 1 X 2 Bed/1 Bath (Vacant)
- 1 X 1 Bed/1 Bath
- 5 Studios (Two Vacant)
- Parking: 5 Spaces
- NOI: $70,127
- Cap Rate: 7.80%
- GRM: 8.86
- Monthly Gross Income: $8,452
