517 W 117th St - Apartments FOR SALE


Los Angeles, CA 90044
$1,695,000 USD
213-943-1897
517 W 117th St, Los Angeles, CA for Sale
$1,695,000 USD
Apartments - FOR SALE
1/7
null | 6.47% Cap Rate

517 W 117th St
Los Angeles, CA 90044


HIGHLIGHTS

  • Built in 2007 — significantly newer than the surrounding housing stock, offering lower maintenance and modern, functional unit layouts
  • Six 2BD/1.5BA townhome-style units with in-unit W/D hookups (one unit includes a W/D) and assigned, gated parking
  • C2-2D-CPIO zoning with Tier 4 TOC — 15,311 SF lot may support 70+ units by right without ED1. Buyer to verify
  • Located directly alongside the 105 Freeway — providing residents fast, direct connectivity to the 110, the South Bay, LAX, and Downtown LA
  • Excess land may support up to six ADUs, offering significant income and value upside — buyer to verify
  • Non-RSO units — subject to AB 1482 (5% + CPI annual increases), allowing rents to reach market within a few years.

OVERVIEW

The SR Group of Marcus & Millichap, as the exclusive listing agent, is pleased to offer for sale 517 West 117th Street, a six-unit apartment community located in South Los Angeles, alongside the 105 Freeway. Built in 2007, the property is comprised of six two-bedroom / one-and-a-half-bath townhome-style units, each featuring in-unit washer/dryer hookups (one unit includes a washer/dryer) and assigned, gated parking. Situated on a generous 15,311-square-foot lot, the property is improved with a 5,208-square-foot building, leaving substantial excess land that may offer additional development potential. One option may be to add six ADUs, offering an opportunity to expand density, income, and long-term value. Beyond the existing improvements, the property’s C2-2D-CPIO zoning and Tier 4 TOC designation present significant redevelopment potential. Based on the 15,311 SF lot, the property may support over 70 units by right — without the use of ED1 — offering a compelling long-term development opportunity. 517 West 117th Street offers investors the opportunity to acquire a newer construction multifamily asset with the potential to increase density in a well-located infill pocket of South Los Angeles. The property provides immediate access to the 105 Freeway and is conveniently situated near a wide range of retail amenities and daily services. PLEASE DO NOT WALK THE PROPERTY OR DISRUPT TENANTS. CONTACT THE LISTING TEAM FOR DETAILS.

FOR SALE DETAILS

PRICE

$1,695,000 USD

PRICE/SF

$325 USD /SF

# OF UNITS

6

PRICE/UNIT

$282,500

CAP RATE

6.47%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

2007-Constructed Townhome-Style Units

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

2007

PARKING SPACES

12

LAND DETAILS

LAND ACRES

0.35 AC

LAND SF

15,311 SF

ZONING

C2-2D-CPIO

APN/PARCEL ID

6088-013-024

ASK ABOUT THIS PROPERTY

Sean RosenzweigMarcus & MillichapMore Info
213-943-1897

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Sean RosenzweigMarcus & MillichapMore Info
213-943-1897

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