207 W 50th St, Los Angeles, CA 90037

207 W 50th St, Los Angeles, CA 90037

Los Angeles, CA
$995,000

Property Description

INVESTMENT HIGHLIGHTS

  • Fully Vacant 4-Plex in a rapidly growing market of Los Angeles
  • When Rented, the subject would operate at a 6.79% cap rate and 11.09 GRM
  • Ideal opportunity for an investor for strong income and upside potential with an ADU (Buyer to Verify).
  • Huge Front 3-Bed/1-Bath House perfect for an Owner/User
  • High-yielding gross monthly income of $7,480
  • Minutes from USC, Downtown LA, and nearby developments

EXECUTIVE SUMMARY

EXISTING 4-UNIT BUILDING THAT WILL BE DELIVERED VACANT CLOSE OF ESCROW. 207 W 50th St is a value add 4-Plex in Los Angeles, CA 90037. Highlighted by a 3-Bed/1-Bath Front house, this property is ideal for any owner/user or investor looking to add value in this quickly growing submarket of Los Angeles. The buyer has the opportunity to convert the existing garage into an ADU (Buyer to verify). This property features (1) 3-Bed/1-Bath front house and (3) Studio units. The exterior has been recently painted and the interior demoed ready for renovations. The subject operates at a 6.79% cap rate and 11.09 GRM. When rented, this property would produce over $7,480 in monthly income. 207 W 50th St is located just minutes from USC, Downtown LA, Gilbert Lindsay Park, Exposition Park, Lucas Museum, Art’s District, The Reef, Banc of California Stadium, Crypto.com Arena, and LA LIVE, as well as billions of dollars worth of development pouring into DTLA

Property Features

  • Sale Price: $995,000
  • Area Size: 2,789 Sq. Ft.
  • Year Built: 1977
  • Listing Date: 11/30/2022
  • Closing Date: 3/7/2023
  • Units: 4
  • Current GRM: 11.09
  • Current Cap Rate: 6.79%
  • Price Per Unit: $248,750