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Quadruplex

879 E 40th Place

$1,600,000

Offered at

Los Angeles, CA 90011

Los Angeles County

Beds

Baths

4,334

Sq Ft

6,307

Lot Sq Ft

2006

Year Built

Exceptional Investment Opportunity To Acquire A Large Income-Producing 4-Unit Property In The High-Demand South Los Angeles / Downtown LA Rental Market. Well-Maintained Quadplex Offers 11 Bedrooms, 5 Bathrooms And Approximately 4,700 Square Feet Of Total Living Space On A 6,300± Square Foot Lot in LARD1.5-1 Zoning… Exceptional Investment Opportunity To Acquire A Large Income-Producing 4-Unit Property In The High-Demand South Los Angeles / Downtown LA Rental Market. Well-Maintained Quadplex Offers 11 Bedrooms, 5 Bathrooms And Approximately 4,700 Square Feet Of Total Living Space On A 6,300± Square Foot Lot in LARD1.5-1 Zoning, Making It One Of The Larger Multifamily Assets In The Immediate Area. Unit1: 4Bed/2Bath Unit2: 3Bed/1Bath Unit3: 2Bed/1Bath Unit4: 2 Bed/1Bath. Additionally, With Rare Amenities Of 9 Total Private Parking Spaces (3 Covered Car Port Parking + 6 Private Uncovered – This Improves Tenant Retention And Value As Parking Is Sparse In The Area. Individually Separately Metered For Gas And Electricity. The Property Was Fully Rebuilt In 2006 And Has Received Recent Minor Updates, Providing Investors With The Benefit Of Modernized Construction Relative To Surrounding Vintage Housing Stock, Improved Structural Integrity, And Reduced Capital Expenditure Requirements. Interior Features: Shaker Kitchen Cabinets, Newer Paint, Newer Flooring, Newer Windows, Newer Sinks, Newer Bathroom Vanities, Newer Showers, Recessed Lighting, And Modern Fixtures. Ground Floor Laundry Area In Ground Floor Unit #879 With Access To Exterior (Could Be Transformed Into Shared Laundry With Coin-op Laundry, Adding Additional Income). The Property Is Fully Rented, Currently Generating Approximately $7,700 Per Month In Gross Rental Income, Offering Stable Cash Flow From Day One. With The Strong Demand For Affordable Housing In The 90011 Corridor, The Asset Presents A Compelling Opportunity For Continued Rental Growth Through Strategic Rent Adjustments, Improved Management, Or Unit Upgrades. Actualize The Development And Density Potential Upside With Improving Rental Income By ADU Development (2-4 ADU Possible), Carport Conversions, Redevelopment Utilizing LA And State Housing Incentives For Higher Density Housing + Transportation Area Incentives. RD1.5-1 Zoning, Transit Oriented Communities (TOC Tier 1), ZI-2374 State Enterprise Zone LA, Transit Oriented Incentive Area 1 (TOIA). Well Positioned – Very Close To USC, Future Olympics Location, Major Transportation Corridors, Retail And Employment Hubs. Ideal For Investors, 1031 Exchange Buyers, Value-Add Builders, Developers Seeking Rental Market With Prime Unit Mix In TOC Zone (8-12 Units Possible) With Rental Pro-Forma Of Approximately $27,600 Per Month After Redevelopment. Your Investment Opportunity Is Here, Call Listing Agent NOW!

Facts & Features

Interior

Bedrooms & bathrooms

Bedrooms: 11
Bathrooms: 5
Full bathrooms: 5

Cooling

Cooling: Electric, Wall Window Units, Zoned

Appliances

Included: Electric Oven, Free Standing Range, Gas Range, Microwave, Refrigerator, Range Hood
Laundry: Washer Hookup, Electric Dryer Hookup, Inside, Laundry Room

Features

Flooring: Tile, Vinyl, Wood
Has fireplace: No

Interior area

Total interior livable area: 4,334 sqft

Property

Parking

Total spaces: 10
Parking features: Attached Carport, Assigned, Concrete, Covered, Carport, Driveway Level, Gated, On Site, Paved, One Space
Garage spaces: 0

Features

Patio & porch: Concrete, Covered, Front Porch, Porch
Has private pool: No
Fencing: Block
Has view: Yes
View features: City Lights, Neighborhood

Lot

Size: 0.14 Acres
Features: Level, Near Public Transit, Rectangular Lot, Street Level

Details

Parcel number: 5114012007
Zoning: LARD1.5

Construction

Type & style

Home type: Residential
Architectural style: Custom
Property subtype: Quadruplex

Materials

Concrete, Stucco
Foundation: Slab
Roof: Shingle

Condition

Year built: 2006

Location

Mike Zwarg

Broker / Owner

951.528.0626
mike@mzhomes.us

Listing Office: eXp Realty of Southern California, Inc · Listing Agent: Justin Yee · 949-533-1572 · CRMLS

The property listing information on this website comes in part from the California Regional Multiple Listing Service (CRMLS) via Internet Data Exchange (IDX). Information is deemed reliable but is not guaranteed accurate by the MLS, and all properties are subject to prior sale, change, or withdrawal. This data is provided exclusively for consumers' personal, non-commercial use, and may not be used for any purpose other than identifying properties consumers may be interested in purchasing. Buyers should independently verify all information, including square footage, lot size, schools, and property condition.

879 E 40th Place

Facts & Features

Location

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