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$ 1,100,000
Est. payment /mo
Active
972 W 47th Street Los Angeles, CA 90037
4,300 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 4,300 sqft
Price per Sqft $255
MLS Listing ID CL26989593
HOA Y/N No
Year Built 1914
Lot Size 6,760 Sqft
Acres 0.1552
Property Sub-Type Other
Property Description
We are pleased to offer 972 W. 47th Street, a fully occupied five-unit multifamily investment property located in Los Angeles, California 90037. The property offers an attractive unit mix consisting of three two-bedroom, one-bathroom units, and two three-bedroom, two-bathroom units. The improvements total approximately 4,300 rentable square feet and are situated on two adjacent parcels (APN #'s 5018-010-020 & 5018-010-023) totaling approximately 6,760-square-feet. The property also provides ample on-site parking for residents. Offered at $1,100,000, the property represents a stable, income-producing investment opportunity with an attractive 7.30 gross rent multiplier and a 9.07% capitalization rate. The property is currently fully occupied, providing an investor with immediate and consistent rental income from the date of acquisition. Recent capital improvements include all five of the units being recently renovated within the last five years prior to tenant move-in as well as a recently installed Ring security system. The property also allows future ADU potential with a large rear garage/storage area that can be converted to increase rental income (buyer to verify). With its strong current cash flow, favorable unit mix, recent improvements, and full occupancy, 972 W. 47th Street offers investors a compelling opportunity to acquire a stabilized multifamily asset at an attractive basis in the Los Angeles market.
Location
State CA
County Los Angeles
Zoning LARD2
Interior
Cooling None
Fireplace No
Building
New Construction No
Others
Tax ID 5018010020
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Listed by Griffin White • BRC Advisors- BH