For Sale
$858,000

473 21St StLos Angeles, CA 90731

Prime 3-unit building, high potential. Excellent location.

Overview

Added:
Dec 11, 2024
Days on market:
115
This exceptional Los Angeles triplex presents a compelling value-add investment opportunity. Boasting 1,898 square feet across three units, this 1-story, 1951-built property sits on a 5,129 square foot lot at 473 W 21st St, Los Angeles, CA 90731 (APN 7456-035-001). Currently operating at 66% occupancy, the property generates a Net Operating Income (NOI) of $49,196, yielding a 5.73% cap rate. A pro-forma analysis projects a significant increase in NOI to $56,225, resulting in a 6.55% cap rate, reflecting the potential for increased rental income. One unit is currently vacant, offering immediate upside potential through market-rate leasing or owner-occupancy. The property includes three parking spaces, with one currently rented at $160 per month. The remaining two spaces offer additional rental income potential at $160 per month each, or the possibility of conversion into accessory dwelling units (ADUs). The asking price is $858,000, translating to $286,000 per unit. This property is situated in an up-and-coming area near new waterfront development, promising strong future appreciation. This is a rare opportunity to acquire a well-maintained multifamily property with substantial upside potential in a desirable Los Angeles location.

Highlights

  • Exceptional Los Angeles triplex, 1,898 sq ft, offering significant value-add potential.
  • Three units on a 5,129 sq ft lot at 473 W 21st St, Los Angeles, CA 90731 (APN 7456-035-001).
  • Currently 66% occupied, generating $49,196 NOI (5.73% cap rate); pro-forma projects $56,225 NOI (6.55% cap rate).
  • One vacant unit provides immediate upside; three parking spaces, one currently rented at $160/month.
  • Asking price: $858,000 ($286,000 per unit); situated in an up-and-coming area near waterfront development.

Property Details for 473 21St St

Property type
Apartment buildings
Square Feet
1,898 SF
Year Built
1951
Buildings
1
Stories
1
Units
3

Location Insight

City
Los Angeles
County
Los Angeles
State
California
Latitude
33.7248956
Longitude
-118.2873991
473 21St St, Los Angeles, California

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473 21St St
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