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$2,725,000
Est. payment /mo
11,386 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Other
Listing Status Pending
Purchase Type For Sale
Square Footage 11,386 sqft
Price per Sqft $239
MLS Listing ID CL25483463
HOA Y/N No
Year Built 1939
Lot Size 0.430 Acres
Acres 0.43
Property Sub-Type Other
Property Description
We are pleased to introduce, for the first time on market in over 20 years, 442 W 93rd Street. The property consists of an attractive mix of 1 three bedroom + two bath, 10 two bedroom + one bath, 5 one bedroom + one bath and 1 nonconforming Studio on a huge 18,730 SF Lot. Plentiful parking is available onsite for tenants. Further investment highlights include a low $170,000 per unit, a 9.13 current GRM and the possibility to achieve additional income from adding multiple ADUs. The economics of the offering show immediate returns at the current income level. However, with market rents continuing in an upward trend, an aggressive management approach may realize a significant upside in rental income over the holding period. South Los Angeles is one of the most resilient markets in the region with historically low vacancy rates and consistent rent growth over the same period. Section 8 vouchers are currently at $3,528 for 3-bedroom units, $2,748 for 2-bedroom units, $2,172 for 1-bedroom units, and $1,920 for studio units.
Location
State CA
County Los Angeles
Zoning LARD
Interior
Heating Wall Furnace
Cooling Wall/Window Unit(s)
Fireplace No
Building
New Construction No
Others
Tax ID 6039005001
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Listed by Enrique Viramontes • Remax Commercial and Investment Realty
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