234 W 39th St, Los Angeles, CA 90037
Los Angeles, CA$1,405,000
Property Description
This 8-unit property offers a unit mix of (6) 1-Bed/1-Bath, (1) 2-Bed/1.5-Bath, and (1) 2-Bed/1-Bath across three buildings totaling 7,821 SF at $312.39/SF. With a current CAP of 4.75% and a GRM of 13.19, the property offers huge upside potential with a market CAP of 7.87% and a market GRM of 9.20. Located just half a mile from The Coliseum and USC Campus in South LA, this property is ideally situated for a yield-focused investor looking for a profitable opportunity in a growing area.
Property Features
- Sale Price: $1,405,000
- Area Size: 5,602 Sq. Ft.
- Land Area: 7,821 Sq. Ft.
- Year Built: 1940
- Listing Date: 5/22/2023
- Closing Date: 9/1/2023
- Units: 8
- Current GRM: 13.19
- Current Cap Rate: 4.76%
- Price Per Unit: $218,750
- Market GRM: 9.14
- Market Cap Rate: 7.95%
- Current NOI: $83,330
