331 W 45th Street,Los Angeles, CA 90037
Los Angeles, CA 90037
Description
Rare opportunity to acquire a well-maintained 20-unit multifamily property offering significant capital improvements and an attractive unit configuration in a highly accessible Los Angeles location. The property features 20 individual single units, with each unit having its own separate, enclosed kitchen room. The property has benefited from substantial infrastructure improvements, providing an investor with the advantage of major building components having already been addressed. Improvements include a complete re-roof, extensive electrical upgrades, new plumbing, updated meter boxes, and newer mechanical components. The electrical system has been extensively upgraded with wiring from the electrical meters to each individual unit, along with electrical meter boxes. The property also features separate electric and gas meters, providing individual utility metering for the units. Plumbing has likewise been significantly improved, with copper plumbing from the meters serving the individual units. The property is equipped with a newer gas water heater and recirculating pump, providing efficient distribution of hot water throughout the building. Security and life-safety features include exterior security cameras and a monitored fire alarm system, providing additional oversight and safety for the property and its residents. Adding to the property's functionality is a large approximately 14' x 38' basement area. This expansive space offers valuable flexibility and may provide potential for laundry facilities, tenant storage, building storage, or other permitted uses, subject to buyer verification and applicable city requirements. The property's location is another significant advantage. Situated with convenient access to Downtown Los Angeles, USC, the Los Angeles Convention Center, Metro rail, and the 110 Freeway, residents benefit from proximity to major employment centers, educational institutions, entertainment, sporting and convention venues, public transportation, and the many amenities of central Los Angeles. For investors, the combination of 20 units, separate enclosed kitchen rooms, separately metered utilities, extensive electrical and plumbing upgrades, complete re-roofing, newer water-heating equipment, security cameras, monitored fire protection, and additional basement space creates an appealing multifamily investment opportunity.
Details
| MLS # | SR26188226 |
|---|---|
| Listing Type | For Sale |
| Style | Condominium |
| Sub-Type | Resale |
| Status | Active |
| Year | 1926 |
| Days On Site | 20 |
| Listing Provided By | Pinnacle Estate Properties, Inc. | Wendy Morley |
Features
| SQ Feet | 8,024 |
|---|---|
| Story(s) | 2 |
| Units | 20 |
| Building(s) | 1 |
| Zoning | LARD2 |
| Acreage | 0.12 |
| Property View | None |
Interior
| Fireplace Yes / No | No |
|---|
Exterior
| Roof | Flat |
|---|---|
| Security Features | Closed Circuit Cameras, Carbon Monoxide Detectors, Smoke Detectors |
| Lot Features | Near Public Transit, Rectangular Lot |
Parking
| Parking Features | None, Off Street, On Street |
|---|---|
| Garage Yes / No | No |
Utilities
| Sewer | Public Sewer |
|---|
Location
| Community Features | Street Lights, Sidewalks |
|---|
Area Information
| State | CA |
|---|---|
| County | Los Angeles |
| City | Los Angeles |
| Zip Code | 90037 |
| Area | C42 Downtown L.A. |
| Listing VS Median (in 90037) | |
Price: $3,000,000 low | high Med: $1,394,500 sqft: 8,024 low | high Med: 3,725 $ / sqft: $374 low | high Med: $382 On site: 20 low | high Med: 75 | |
Market Activity 90037
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Learn More About This Property
| State | CA |
|---|---|
| County | Los Angeles |
| City | Los Angeles |
| Zip Code | 90037 |
| Area | C42 Downtown L.A. |
| Listing VS Median (in 90037) | |
Price: $3,000,000 low | high Med: $1,394,500 sqft: 8,024 low | high Med: 3,725 $ / sqft: $374 low | high Med: $382 On site: 20 low | high Med: 75 | |
