Description
Located at 1723 W 52nd Street in the rapidly evolving neighborhood of South Los Angeles, this strong cash-flowing asset on a LAR2-zoned lot provides an existing 7.31% cap rate and the opportunity for a new owner to choose tenants for the two vacant units (one 2-bedroom/1-bathroom unit, one 1-bedroom/1-bathroom unit). The property was originally built as a duplex and remains such on title. Current tenants enjoy the convenience of 7 separate and secure entrances, as well as 5 generous parking spaces at the front. As the City of Los Angeles works to solve its affordable housing shortage, it could be possible to create conforming units from the existing square footage and add 2 additional ADU units*.
Currently, there are two vacant units. The 2-bedroom, 1-bathroom unit is the largest on the property, and the 2-bedroom, 1-bathroom unit is the second largest. All other units are studios. A new owner can choose 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: $959,000
- 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 (Vacant)
- 5 Studios
- Parking: 5 Spaces
- NOI: $70,127
- Cap Rate: 7.31%
- GRM: 9.46
- Monthly Gross Income: $8,452
