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$1,600,000

Est. payment - /mo

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11 Beds

5 Baths

4,334 SqFt

Active

879 E 40th Place Los Angeles, CA 90011

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Wendy Carter

wendy@wendycarter.com +1(858) 716-6750

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Key Details

Property Type Condo

Sub Type All Other Attached

Listing Status Active

Purchase Type For Sale

Square Footage 4,334 sqft

Price per Sqft $369

MLS Listing ID OC26056394

Style Custom Built

Bedrooms 11

Full Baths 5

Year Built 2006

Lot Size 6,309 Sqft

Property Sub-Type All Other Attached

Property Description

Exceptional Investment Opportunity To Acquire A Large Income-Producing 4-Unit Property In The High-Demand South Los Angeles / Downtown LA Rental Market. Well-Maintained Quadplex Offers 11 Bedrooms, 5 Bathrooms And Approximately 4,700 Square Feet Of Total Living Space On A 6,300 Square Foot Lot in LARD1.5-1 Zoning, Making It One Of The Larger Multifamily Assets In The Immediate Area. Unit1: 4Bed/2Bath Unit2: 3Bed/1Bath Unit3: 2Bed/1Bath Unit4: 2 Bed/1Bath. Additionally, With Rare Amenities Of 9 Total Private Parking Spaces (3 Covered Car Port Parking + 6 Private Uncovered This Improves Tenant Retention And Value As Parking Is Sparse In The Area. Individually Separately Metered For Gas And Electricity. The Property Was Fully Rebuilt In 2006 And Has Received Recent Minor Updates, Providing Investors With The Benefit Of Modernized Construction Relative To Surrounding Vintage Housing Stock, Improved Structural Integrity, And Reduced Capital Expenditure Requirements. Interior Features: Shaker Kitchen Cabinets, Newer Paint, Newer Flooring, Newer Windows, Newer Sinks, Newer Bathroom Vanities, Newer Showers, Recessed Lighting, And Modern Fixtures. Ground Floor Laundry Area In Ground Floor Unit #879 With Access To Exterior (Could Be Transformed Into Shared Laundry With Coin-op Laundry, Adding Additional Income). The Property Is Fully Rented, Currently Generating Approximately $7,700 Per Month In Gross Rental Income, Offering Stable Cash Flow From Day One. With The Strong Demand For Affordable Housing In The 90011 Corridor, The Asset Presents A Compelling Opportunity For Continued Re

Location

State CA

County Los Angeles

Zoning LARD1.5

Direction From MARTIN LUTHER KING JR BLVD Heading EAST, Go SOUTH on MCKINLEY AVE, Then Go EAST on 40th PL, SUBJECT PROPERTY Located Middle of 40TH PL on LEFT SIDE

Interior

Interior Features 2 Staircases, Copper Plumbing Partial, Granite Counters, Recessed Lighting

Heating Wall/Gravity

Cooling Electric, Wall/Window, Zoned Area(s)

Flooring Linoleum/Vinyl, Tile, Wood

Fireplace No

Appliance Microwave, Refrigerator, Electric Oven, Gas Range

Laundry Electric, Washer Hookup

Exterior

Parking Features Assigned, Gated

Utilities Available Electricity Connected, Sewer Connected, Water Connected

View Y/N Yes

Water Access Desc Public

View City Lights, Neighborhood

Roof Type Shingle

Accessibility 2+ Access Exits, No Interior Steps

Porch Concrete, Covered, Porch, Slab

Total Parking Spaces 10

Building

Story 3

Sewer Public Sewer

Water Public

Level or Stories 3

Others

Senior Community No

Tax ID 5114012007

Acceptable Financing Cash, Cash To New Loan, Conventional, FHA, Submit, VA

Listing Terms Cash, Cash To New Loan, Conventional, FHA, Submit, VA

Special Listing Condition Standard

Listed by Justin Yee, DRE#01904338 eXp Realty of Southern California, Inc
Co-listed byNON LISTED OFFICE

Nearby School & Business

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Wendy Carter

Real Estate Agent CA DRE#02059416

+1(858) 716-6750

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