3101 W 48th St - Apartments FOR SALE


Los Angeles, CA 90043- Park Mesa Heights
$1,350,000 USD
310-494-6368
3101 W 48th St, Los Angeles, CA for Sale
$1,350,000 USD
Apartments - FOR SALE
1/14
null | 6.63% Cap Rate

3101 W 48th St
Los Angeles, CA 90043
Park Mesa Heights


HIGHLIGHTS

  • Corner lot 8-unit building adjacent to Leimert Park. Mix comprised of (7) 1BR/1BA and (1) 2BR/1BA units.
  • Built in 1952, the 5,248 SF building sits on a 7,746 SF lot. Gated parking secures (6) single parking spaces.
  • Property is separately metered for gas and electric. Many of the unit interiors have been updated .
  • Majority of the electrical sub-panels have been updated over the years. Main disconnect original.
  • Leased laundry machine brings in additional income. Sizable units average 656 SF each.
  • Located in the heart of Los Angeles, central to downtown LA, Inglewood, and Culver City

OVERVIEW

The Glaser Group is pleased to present 3101 W 48th Street, a well-maintained 8-unit multifamily property ideally positioned on a corner lot adjacent to the highly desirable Leimert Park neighborhood of Los Angeles. Built in 1952, the property represents an opportunity to acquire a centrally located asset with a stable unit mix and meaningful value-add upside in one of the city's most supply-constrained rental submarkets. The offering is priced at $168,750 per unit, reflecting a 6.63% cap rate and a 9.45 GRM. The property encompasses approximately 5,248 square feet of living space on a 7,746 SF lot and features a unit mix of (7) 1BR/1BA and (1) 2BR/1BA units. The sizable units average 656 square feet each, appealing to a broad renter profile. Many of the unit interiors have been updated over the years, offering a strong foundation for continued repositioning and incremental rent growth. Ownership has completed some capital improvements in recent years. The majority of the electrical sub panels have been updated, and the property is separately metered for both gas and electricity. The required CA state SB-721 balcony inspection has been completed and passed. New drought-friendly landscaping has also been refinished, reducing ongoing maintenance costs and improving curb appeal. The building also received brand new exterior paint (2026). The property offers gated parking with (6) secured single spaces, and a leased laundry machines generate supplemental income for the ownership. The corner lot configuration presents strong ADU potential (Buyer to Verify), providing a compelling avenue for future expansion and increased cash flow. Ideally situated in the vibrant Leimert Park submarket, 3101 W 48th Street benefits from strong and consistent rental demand driven by its central position within Los Angeles and convenient proximity to downtown Los Angeles, Inglewood, and Culver City, as well as access to major employment centers, retail, dining, and transportation corridors.

FOR SALE DETAILS

PRICE

$1,350,000 USD

PRICE/SF

$257 USD /SF

# OF UNITS

8

PRICE/UNIT

$168,750

CAP RATE

6.63%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1952

PARKING SPACES

6

LAND DETAILS

LAND ACRES

0.18 AC

LAND SF

7,841 SF

ZONING

LAR3

APN/PARCEL ID

5014-003-001

ASK ABOUT THIS PROPERTY

Jake GlaserLyon Stahl Investment Real EstateMore Info
310-494-6368

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Jake GlaserLyon Stahl Investment Real EstateMore Info
310-494-6368

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.