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Value Add 4 Unit near Expo Park - $175/door! 965 W 47th St

4 Unit Apartment Building $699,000 ($174,750/Unit) 3.70% Cap Rate Los Angeles, CA 90037

Investment Highlights

  • Proximity to schools, public transit, Exposition Park, Downtown LA, and USC.
  • Great Value, $175K/door.
  • Huge Upside in Rents!
  • Excellent 90037 Location, just minutes to USC, Banc of California Arena, Exposition Park & More!

Executive Summary

Global Platinum Properties is excited to showcase a lucrative FOUR UNIT residential property centrally located in Los Angeles. This investment opportunity encompasses three distinct buildings with a combined area of 2,802 square feet, situated on a 6,682 square foot lot zoned RD-3, TOC (Tier 3). The property features alley access to garages, offering the potential for ADU conversion. Each unit is individually metered for gas and electricity, enhancing convenience. Located within walking distance to schools and public transportation, the property is also just minutes away from Exposition Park, Downtown Los Angeles, and USC.
With proximity to schools, public transit, Exposition Park, Downtown LA, and USC, this property promises not only exceptional returns but also a prime location for long-term growth and value appreciation. Close to freeways such as the 110 and 10, residents have easy access to all that Los Angeles has to offer. Additionally, being close to the Lucas Museum of Narrative Art, BMO Stadium, and Los Angeles Coliseum ensures endless entertainment options right at your doorstep. This neighborhood is poised for an exciting future with the upcoming 2028 Summer Olympics just 1 mile away from this property. The potential for growth in this area is unmatched making it an ideal investment opportunity for savvy investors looking for both short-term profits and long-term value appreciation.

Property Facts

Price $699,000
Price Per Unit $174,750
Sale Type Investment
Cap Rate 3.70%
Gross Rent Multiplier 13.45
No. Units 4
Property Type Multifamily
Property Subtype
Apartment
  • Multifamily Dormitory
Apartment Style Low Rise
Building Class C
Lot Size 0.15 AC
Building Size 2,803 SF
Average Occupancy 100%
No. Stories 2
Year Built 1924
Parking Ratio 1.07/1,000 SF

Unit Amenities

  • Porch

Unit Mix Information

Description No. Units Avg. Rent/Mo SF
1+1 3 - -
3+2 1 - -
Walk Score ®
Very Walkable (81)
Bike Score ®
Very Bikeable (75)
What is a Walk Score®, Transit Score® & Bike Score®?
Walk Score® measures the walkability of any address.
Transit Score® measures access to public transit.
Bike Score® measures bikeability of a location.
What is a Walk Score®
, Transit Score® & Bike Score?
Walk Score® measures the walkability
of any address. Transit Score®
measures access to public transit. Bike Score®
measures bikeability of a location.®

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
5018-009-021
Land Assessment
$546,820
Improvements Assessment
$229,664
Total Assessment
$776,484

zoning

Zoning Code LARD3
LARD3
  • Listing ID: 32586001

  • Date on Market: 7/25/2024

  • Last Updated:

  • Address: 965 W 47th St, Los Angeles, CA 90037

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