359 E 56th ST, Los Angeles, CA 90011
359 E 56th ST, Los Angeles, CA 90011
359 E 56th ST, Los Angeles, CA 90011
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Diego Magdaleno

Diego Magdaleno

+1(714) 376-8652
$875,000
Est. payment /mo
6 Beds
6 Baths
2,976 SqFt
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UPDATED:

Key Details

Property Type Single Family Home

Listing Status Pending

Purchase Type For Sale

Square Footage 2,976 sqft

Price per Sqft $294

MLS Listing ID 26641147

Bedrooms 6

HOA Y/N No

Year Built 1923

Lot Size 10,589 Sqft

Property Description

The subject property is a six-unit apartment complex located in South Los Angeles. The units were constructed in 1923 and contain 2,978 square feet. The apartments are situated on a large, 10,588 square foot lot which is zoned LAR2. The buildings consist of all one-bedroom units averaging just under 500 square feet each. The complex gives the feel of individual houses which make it very attractive to prospective tenants. Currently, the apartments are generating $8,112 per month and over $97,000 annually. Also, there is plenty of upside in the rents. At a GRM of 8.98 and $145,000 per unit. This is a great investment opportunity. In 2025, a Capital Improvement of $32,820 was invested in the roof. (That was not included in the regular expenses.)

Location

State CA

County Los Angeles

Area C42 - Downtown L.A.

Zoning LAR2

Interior

Heating Wall Furnace

Cooling None

Fireplace No

Exterior

Parking Features Gated

Total Parking Spaces 6

Building

Entry Level One

Level or Stories One

New Construction No

Others

Senior Community No

Tax ID 5101010004

Special Listing Condition Standard

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Listed by Jerome McAlpin McAlpin & Company #00939725

NEARBY SCHOOLS & PROPERTIES

Diego Magdaleno

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