526 534 W 47th St,Los Angeles, CA 90037
Los Angeles, CA 90037
Description
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.
Details
| MLS # | SB26190326 |
|---|---|
| Listing Type | For Sale |
| Style | Condominium |
| Sub-Type | Resale |
| Status | Active |
| Year | 1927 |
| Days On Site | 7 |
| Listing Provided By | Lyon Stahl Investment Real Estate, Inc. | John Stiegler II |
Features
| SQ Feet | 11,953 |
|---|---|
| Story(s) | 2 |
| Units | 19 |
| Building(s) | 2 |
| Acreage | 0.36 |
Exterior
| Lot Features | Rectangular Lot |
|---|
Parking
| Garage Yes / No | No |
|---|
Utilities
| Sewer | Public Sewer |
|---|
Location
| Community Features | Biking, Curbs, Gutters, Storm Drains, 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: $3,349,000 low | high Med: $1,484,500 sqft: 11,953 low | high Med: 3,992 $ / sqft: $280 low | high Med: $382 On site: 7 low | high Med: 44 | |
Market Activity 90037
Request a showing
Request a showing
Contact
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: $3,349,000 low | high Med: $1,484,500 sqft: 11,953 low | high Med: 3,992 $ / sqft: $280 low | high Med: $382 On site: 7 low | high Med: 44 | |