REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.

In-PersonVirtual Tour

Diego Magdaleno

diego@1visionre.com +1(714) 376-8652

$950,000

Est. payment - /mo

7 Beds

5 Baths

2,415 SqFt

Save

UPDATED:

Key Details

Property Type Single Family Home

Listing Status Active

Purchase Type For Sale

Square Footage 2,415 sqft

Price per Sqft $393

MLS Listing ID 26848799

Bedrooms 7

HOA Y/N No

Year Built 1956

Lot Size 5,688 Sqft

Property Description

We are pleased to present 1318 E. 59th Place, a four-unit multifamily investment opportunity in South Los Angeles, offered at a 9.13 GRM and 7.53% CAP rate based on current income. The property also presents meaningful rental upside, with the potential to achieve a 7.78 GRM and 9.38% CAP rate upon stabilization at market rents. NOTE: There is potential to deliver 1 unit VACANT at closing (contact broker for details). The property consists of two separate buildings totaling approximately 2,415 rentable square feet. Constructed in 1956, the improvements are situated on a 5,690 square foot LCR3YY-zoned lot and feature tandem driveway parking on both sides of the property. The unit mix includes three (3) one-bedroom/one-bathroom units and one (1) four-bedroom/one-bathroom unit, providing a desirable combination of smaller and larger floorplans. Conveniently located just east of the 110 Freeway and south of Slauson Avenue, the property benefits from excellent accessibility throughout the greater Los Angeles area. The asset is situated near the recently improved Slauson Bike Path, which has enhanced connectivity and transportation options within the surrounding community. Residents enjoy convenient access to the Slauson Avenue and Compton Avenue Metro stations, multiple bus lines, and nearby employment and retail corridors. Nearby recreational amenities include South Los Angeles Wetlands Park, South Park Recreation Center & Pool, Augustus F. Hawkins Nature Park, and Slauson Recreation Center, offering tenants a variety of outdoor and community resources.

Location

State CA

County Los Angeles

Area C42 - Downtown L.A.

Zoning LCR3YY

Interior

Cooling None

Fireplace No

Exterior

Parking Features Driveway

Total Parking Spaces 6

Building

Story 1

Entry Level One

Level or Stories One

New Construction No

Others

Senior Community No

Tax ID 6008025021

Special Listing Condition Standard

Read Less Info

CRMLS Full IDX Feed (MAIN Website Search)

Listed by Casey Lins Kidder Mathews of California, Inc. #01902650

NEARBY SCHOOLS & PROPERTIES

Have questions about this property, other properties, or thinking of selling a similar one? We’re here to help. Simply complete the GET MORE INFORMATION form, and we’ll be in touch shortly!

+1(714) 681-1222

info@1visionre.com

GET MORE INFORMATION

QUICK SEARCH

1318 E 59th PL Los Angeles, CA 90001