Property Description

1144 W 57th St is a renovated 4-Plex comprised of all 2- Bed/1-Bath Units and delivered with 3 tenant ready units. Plans for an additional 2-Bed/2-Bath ADU will be delivered RTI at the close of escrow. This 4+1 unit building is located in a rapidly growing submarket of Los Angeles with plenty of value for an investor or owner/user looking to increase the value. The subject property is located in the 90037 zip code and currently priced at a 5.81% cap rate! After the addition of the ADU, the subject property will operate at a 7.03% cap rate, including conservative construction costs. With three units currently renovated and tenant ready, this asset will immediately cash flow and is fit for any investor looking for stable income and the opportunity to add value through the process of ADUs. Located in the 90037 Zip code, the subject property is steps from the new recreational development at 5800 Figueroa, as well as new apartment developments in the subpocket.