879 E 40th PL, Los Angeles, CA 90011
879 E 40th PL, Los Angeles, CA 90011
879 E 40th PL, Los Angeles, CA 90011
879 E 40th PL, Los Angeles, CA 90011
879 E 40th PL, Los Angeles, CA 90011
879 E 40th PL, Los Angeles, CA 90011
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Donnie Bowen

Donnie Bowen

+1(949) 290-9754
$ 1,600,000
Est. payment | /mo

6,307 Sqft Lot

Save
$ 1,600,000
Est. payment | /mo
Save

6,307 Sqft Lot

Key Details

Property Type Multi-Family

Sub Type Quadruplex

Listing Status Active

Purchase Type For Sale

MLS Listing ID OC26053122

Construction Status Additions/Alterations,Updated/Remodeled,Turnkey

HOA Y/N No

Year Built 2006

Lot Size 6,307 Sqft

Property Sub-Type Quadruplex

Property Description

Exceptional Investment Opportunity To Acquire A Large Income-Producing 4-Unit Property In The High-Demand South Los Angeles / Downtown LA Rental Market. Well-Maintained Quadplex Offers 11 Bedrooms, 5 Bathrooms And Approximately 4,700 Square Feet Of Total Living Space On A 6,300± Square Foot Lot in LARD1.5-1 Zoning, Making It One Of The Larger Multifamily Assets In The Immediate Area. Unit1: 4Bed/2Bath Unit2: 3Bed/1Bath Unit3: 2Bed/1Bath Unit4: 2 Bed/1Bath. Additionally, With Rare Amenities Of 9 Total Private Parking Spaces (3 Covered Car Port Parking + 6 Private Uncovered – This Improves Tenant Retention And Value As Parking Is Sparse In The Area. Individually Separately Metered For Gas And Electricity. The Property Was Fully Rebuilt In 2006 And Has Received Recent Minor Updates, Providing Investors With The Benefit Of Modernized Construction Relative To Surrounding Vintage Housing Stock, Improved Structural Integrity, And Reduced Capital Expenditure Requirements. Interior Features: Shaker Kitchen Cabinets, Newer Paint, Newer Flooring, Newer Windows, Newer Sinks, Newer Bathroom Vanities, Newer Showers, Recessed Lighting, And Modern Fixtures. Ground Floor Laundry Area In Ground Floor Unit #879 With Access To Exterior (Could Be Transformed Into Shared Laundry With Coin-op Laundry, Adding Additional Income). The Property Is Fully Rented, Currently Generating Approximately $7,700 Per Month In Gross Rental Income, Offering Stable Cash Flow From Day One. With The Strong Demand For Affordable Housing In The 90011 Corridor, The Asset Presents A Compelling Opportunity For Continued Rental Growth Through Strategic Rent Adjustments, Improved Management, Or Unit Upgrades. Actualize The Development And Density Potential Upside With Improving Rental Income By ADU Development (2-4 ADU Possible), Carport Conversions, Redevelopment Utilizing LA And State Housing Incentives For Higher Density Housing + Transportation Area Incentives. RD1.5-1 Zoning, Transit Oriented Communities (TOC Tier 1), ZI-2374 State Enterprise Zone LA, Transit Oriented Incentive Area 1 (TOIA).
Well Positioned – Very Close To USC, Future Olympics Location, Major Transportation Corridors, Retail And Employment Hubs. Ideal For Investors, 1031 Exchange Buyers, Value-Add Builders, Developers Seeking Rental Market With Prime Unit Mix In TOC Zone (8-12 Units Possible) With Rental Pro-Forma Of Approximately $27,600 Per Month After Redevelopment. Your Investment Opportunity Is Here, Call Listing Agent NOW!

Location

State CA

County Los Angeles

Area C42 - Downtown L.A.

Interior

Interior Features Block Walls, Ceiling Fan(s), Granite Counters, Multiple Staircases, Quartz Counters, Recessed Lighting, Storage, Bedroom on Main Level, Galley Kitchen, Main Level Primary

Heating Wall Furnace

Cooling Electric, Wall/Window Unit(s), Zoned

Flooring Tile, Vinyl, Wood

Fireplaces Type None

Fireplace No

Appliance Electric Oven, Free-Standing Range, Gas Range, Microwave, Refrigerator, Range Hood

Laundry Washer Hookup, Electric Dryer Hookup, Inside, Laundry Room

Exterior

Parking Features Attached Carport, Assigned, Concrete, Driveway Level, On Site, Side By Side

Carport Spaces 3

Fence Block

Pool None

Community Features Curbs, Gutter(s), Street Lights, Sidewalks, Urban

Utilities Available Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected

View Y/N Yes

View City Lights, Neighborhood

Roof Type Shingle

Accessibility Safe Emergency Egress from Home, No Stairs

Total Parking Spaces 9

Private Pool No

Building

Lot Description Level, Near Public Transit, Rectangular Lot, Street Level

Story 3

Entry Level Three Or More

Foundation Slab

Sewer Public Sewer

Water Public

Architectural Style Custom

Level or Stories Three Or More

New Construction No

Construction Status Additions/Alterations,Updated/Remodeled,Turnkey

Others

Senior Community No

Tax ID 5114012007

Security Features Carbon Monoxide Detector(s),Fire Detection System,Security Gate,Smoke Detector(s),Window Bars

Acceptable Financing Cash, Cash to New Loan, Conventional, FHA, Submit

Listing Terms Cash, Cash to New Loan, Conventional, FHA, Submit

Special Listing Condition Standard

Lease Land No

CRMLS Full IDX Feed (MAIN Website Search)
Listed by Justin Yee eXp Realty of Southern California, Inc 949-533-1572, DRE #01904338
NEARBY SCHOOL & BUSINESS
Donnie Bowen

+1(949) 290-9754

[email protected]

22502 Avenida Empresa, Rancho Santa Margarita, California, 92688, USA

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879 E 40th PL