187 W 41st Pl, Los Angeles, CA 90037

187 W 41st Pl, Los Angeles, CA 90037

Los Angeles, CA

Property Description

187 W. 41st Pl is a highly desirable 6-Unit Multifamily Property located just steps from USC. All tenants are Section 8, offering any investor guaranteed monthly income! Offered at only $251/Sq. Ft, this value-add opportunity has nearly 30% upside in gross monthly income, once units are rented out for market rate. With a going-in cap rate of 5.05%, 187 W. 41st Pl is the perfect opportunity for any investor looking for immediate cash-flow, with strong upside! The subject property boasts a high-yielding unit mix of (4) 3-Bedroom + 1- Bath and (2) large 1-Bed + 1-Bath units. With 5,758 rentable Sq. Ft, these large units feature washer/dryer in unit, in-wall A/C and central heating. There is still plenty of room to grow the income, with a 8.26 Market CAP and 8.88 Market GRM. 187 W. 41 Pl is located just minutes from USC, Downtown LA, Gilbert Lindsay Park, Exposition Park, Lucas Museum, Art’s District, The Reef, Banc of California Stadium, and LA LIVE, as well as billions of dollars worth of development pouring into DTLA.

Property Features

  • Sale Price: 1,450,000
  • Area Size: 5,758 SF
  • Year Built: 1924
  • Listing Date: June 23, 2021
  • Closing Date: September 3, 2021
  • Units: 6
  • Current GRM: 12.59
  • Current Cap Rate: 5.05%
  • Market GRM: 8.88
  • Market Cap Rate: 8.26%