972 W 47th Street,Los Angeles, CA 90037
Los Angeles, CA 90037
Description
We are pleased to offer 972 W. 47th Street, a fully occupied five-unit multifamily investment property located in Los Angeles, California 90037. The property offers an attractive unit mix consisting of three two-bedroom, one-bathroom units, and two three-bedroom, two-bathroom units. The improvements total approximately 4,300 rentable square feet and are situated on two adjacent parcels (APN #'s 5018-010-020 & 5018-010-023) totaling approximately 6,760-square-feet. The property also provides ample on-site parking for residents. Offered at $1,100,000, the property represents a stable, income-producing investment opportunity with an attractive 7.30 gross rent multiplier and a 9.07% capitalization rate. The property is currently fully occupied, providing an investor with immediate and consistent rental income from the date of acquisition. Recent capital improvements include all five of the units being recently renovated within the last five years prior to tenant move-in as well as a recently installed Ring security system. The property also allows future ADU potential with a large rear garage/storage area that can be converted to increase rental income (buyer to verify). With its strong current cash flow, favorable unit mix, recent improvements, and full occupancy, 972 W. 47th Street offers investors a compelling opportunity to acquire a stabilized multifamily asset at an attractive basis in the Los Angeles market.
Details
| MLS # | 26989593 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Active Under Contract |
| Year | 1914 |
| Days On Site | 38 |
| Listing Provided By | BRC Advisors- BH | Griffin White |
Features
| Bed(s) | 12 |
|---|---|
| Bath(s) | 7 |
| SQ Feet | 4,300 |
| Story(s) | 1 |
| Units | 5 |
| Building(s) | 2 |
| Zoning | LARD2 |
| Acreage | 0.16 |
Interior
| Cooling | None |
|---|---|
| Cooling Yes / No | No |
Parking
| Parking Features | Driveway |
|---|
Area Information
| State | CA |
|---|---|
| County | Los Angeles |
| City | Los Angeles |
| Zip Code | 90037 |
| Area | C34 Los Angeles Southwest |
| Listing VS Median (in 90037) | |
Price: $1,100,000 low | high Med: $817,000 sqft: 4,300 low | high Med: 3,152 $ / sqft: $256 low | high Med: $323 On site: 38 low | high Med: 154 | |
Market Activity 90037
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Learn More About This Property
| State | CA |
|---|---|
| County | Los Angeles |
| City | Los Angeles |
| Zip Code | 90037 |
| Area | C34 Los Angeles Southwest |
| Listing VS Median (in 90037) | |
Price: $1,100,000 low | high Med: $817,000 sqft: 4,300 low | high Med: 3,152 $ / sqft: $256 low | high Med: $323 On site: 38 low | high Med: 154 | |
 | $1,195,000831 W 50thLos Angeles, CA 90037 |