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1050 W 84TH Place

Los Angeles (City), CA 90044
  • $1,370,000
  • STATUS: Active
  • ON SITE: 39 Days
  • ID#: 22147485
UPDATED: 41 min ago
$1,370,000
  • 0
    BEDS
  • 0.12
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Type:
Multi-Family
Built:
1939
County:

School Ratings & Info

Listing Agent(s): Jason Tuvia of Marcus & Millichap (818-212-2700)


Description

We are pleased to present a six (6) unit apartment building located at 1050 West 84th Place in Los Angeles, California. The subject property is positioned in a solid South Los Angeles location, north of Manchester Avenue and west of Vermont Avenue. Originally built in 1939, this property contains a good unit mix of two (2) newly constructed (2022) ADU studio / one bathroom units and four (4) one bedroom / one bathroom units. Spread across two (2) buildings, all the tenants have Section 8 which guarantees in place positive initial cash flow. Located in the coveted Vermont Knolls neighborhood of South LA, the property features lovely curb appeal, a lush front yard, and a relaxing center courtyard all in a quiet residential pocket with plenty of street parking adjacent to major commercial corridors on Manchester Avenue and Vermont Avenue. Los Angeles County's new Transit Oriented Vermont-Manchester mixed-use project, which was recently awarded $20 million, is also located less than a quarter mile away from the subject property. Tenants will enjoy being just minutes away from the Ram's SoFi Stadium, USC, and Downtown LA. Within walking distance residents can find great restaurant, retail, and recreational amenities such as Wingstop, Bamboo Garden, Alfredo's Mexican Food, Smart & Final, Beauty Supply, and Hardcore Training Gym. Outdoor recreation is also available less than half a mile away at Vermont Miracle Park. Situated in a solid South Los Angeles location, this offering presents an excellent opportunity for an any investor to capitalize on an initial 5.38% cap rate in a gentrifying market of Los Angeles.

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Based on information from California Regional Multiple Listing Service, Inc. as of 2022-05-28T22:27:34.22. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Legacy 15 Real Estate Brokers. Licensed in the State of California, USA.
www.legacy15.com/homes/127816948
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1050 W 84TH Place Los Angeles (City), CA 90044

  • Price: $1,370,000
  • Status: Active
  • On Site: 39 Days
  • Updated: 41 min ago
  • ID#: 22147485
0
Beds
0
Baths
0
½ Baths
0.12
Acres
1939
Built
Neighborhood:
C36 - Metropolitan Southwest
County:
Los Angeles
Area:
C36 - Metropolitan Southwest
Property Description
We are pleased to present a six (6) unit apartment building located at 1050 West 84th Place in Los Angeles, California. The subject property is positioned in a solid South Los Angeles location, north of Manchester Avenue and west of Vermont Avenue. Originally built in 1939, this property contains a good unit mix of two (2) newly constructed (2022) ADU studio / one bathroom units and four (4) one bedroom / one bathroom units. Spread across two (2) buildings, all the tenants have Section 8 which guarantees in place positive initial cash flow. Located in the coveted Vermont Knolls neighborhood of South LA, the property features lovely curb appeal, a lush front yard, and a relaxing center courtyard all in a quiet residential pocket with plenty of street parking adjacent to major commercial corridors on Manchester Avenue and Vermont Avenue. Los Angeles County's new Transit Oriented Vermont-Manchester mixed-use project, which was recently awarded $20 million, is also located less than a quarter mile away from the subject property. Tenants will enjoy being just minutes away from the Ram's SoFi Stadium, USC, and Downtown LA. Within walking distance residents can find great restaurant, retail, and recreational amenities such as Wingstop, Bamboo Garden, Alfredo's Mexican Food, Smart & Final, Beauty Supply, and Hardcore Training Gym. Outdoor recreation is also available less than half a mile away at Vermont Miracle Park. Situated in a solid South Los Angeles location, this offering presents an excellent opportunity for an any investor to capitalize on an initial 5.38% cap rate in a gentrifying market of Los Angeles.
Exterior Features

Lot Features Front YardLawnLandscaped Parking Features PublicOn Street Parking Total 0 Pool Features None Pool Private YN No Spa Features None Spa YN No View City Lights View YN Yes

Interior Features

Appliances Built-InOvenRangeRefrigerator Flooring Wood Heating Wall Furnace Heating YN Yes

Property Features

Additional Parcels YN No Association Fee 0 Gross Income 105480 Land Lease YN No Levels Two Listing Agreement Seller Reserved Listing Service Full Service Net Operating Income 73647 New Construction YN No Possession Close Of Escrow Property Condition Additions/Alterations Senior Community YN No Special Listing Conditions Standard Vacancy Allowance Rate 33 Zoning Lard1.5



Based on information from California Regional Multiple Listing Service, Inc. as of 2022-05-28T22:27:34.22. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Legacy 15 Real Estate Brokers. Licensed in the State of California, USA.
 
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Legacy 15 Real Estate Brokers
22521 Avenida Empresa Suites 100 & 102
Rancho Santa Margarita CA, 92688
Listing Agent(s): Jason Tuvia of Marcus & Millichap (818-212-2700)