526-534 W 47th St - Apartments FOR SALE


Los Angeles, CA 90037- Vermont Harbor
$3,349,000 USD
310-447-2213
526-534 W 47th St, Los Angeles, CA for Sale
$3,349,000 USD
Apartments - FOR SALE
1/52
null | 6.46% Cap Rate

526-534 W 47th St
Los Angeles, CA 90037
Vermont Harbor


HIGHLIGHTS

  • 19 units across two buildings - Four vacant units- Two separate parcels
  • Near USC, Downtown Los Angeles and the 110 Freeway
  • Eighteen 1-bedroom units and one 3-bedroom unit
  • Approximately 46% rental upside
  • No on-site manager generally required
  • Approximately 15,467 square feet of land

OVERVIEW

526–534 W 47th Street presents an opportunity to acquire two neighboring apartment buildings totaling 19 units in a central Los Angeles location. The properties feature eighteen 1-bedroom/1-bathroom units and one 3-bedroom/1-bathroom unit, with approximately 11,953 square feet of building area situated on approximately 15,467 square feet of land. Four units are currently vacant, providing an incoming investor with the opportunity to renovate and lease the units while benefiting from the property’s existing income. Based on projected market rents, the property offers approximately 46% upside in scheduled rental income, increasing from approximately $356,568 to $521,400 annually. The offering consists of two separate parcels, each containing fewer than 16 units, which generally eliminates the state requirement for an on-site resident manager. Conveniently located near the 110 Freeway, USC, Exposition Park, the Los Angeles Memorial Coliseum and Downtown Los Angeles, this offering provides attractive scale, immediate vacant-unit potential and meaningful long-term rental upside.

FOR SALE DETAILS

PRICE

$3,349,000 USD

PRICE/SF

$280 USD /SF

# OF UNITS

19

PRICE/UNIT

$176,263

CAP RATE

6.46%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

W 47th Street Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1927

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.36 AC

LAND SF

15,467 SF

ZONING

LARD2

APN/PARCEL ID

5018-027-015,5018-027-016

ASK ABOUT THIS PROPERTY

Johnnie StieglerLyon Stahl Investment Real Estate, Inc.More Info
310-447-2213

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Johnnie StieglerLyon Stahl Investment Real Estate, Inc.More Info
310-447-2213

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