231 36Th Pl Los Angeles, CA 90007

Exceptional investment opportunity: a meticulously maintained, five-unit apartment building in Los Angeles, CA (90007). This property boasts a commanding location just blocks from USC, within a 24-hour patrol zone, ensuring both safety and high demand. The building comprises three structures: two duplexes (each 6 bed, 6 bath) constructed in 2019, totaling 4,514 square feet, and a newly built (2022) 3-bed, 3-bath Accessory Dwelling Unit (ADU) adding 1,010 square feet. The total square footage is 5,524, situated on a 6,388 square foot lot. The property features four parking spaces and is zoned LARD1.5. Currently, the building is fully master-leased to a reputable student housing operator until July 31, 2027, providing guaranteed income and minimizing vacancy risks. The current annual rental income exceeds $243,000, starting August 1, 2024, with a projected Net Operating Income (NOI) of approximately $180,000, resulting in a 4.5% capitalization rate. All units are fully furnished and include in-unit laundry, expansive kitchens, and tenant-centric amenities such as regular common area cleaning, WiFi, and covered utilities. This turnkey investment offers significant upside potential and a strong, stable cash flow. The asking price is $3,990,000, with a price per square foot of $722.30. The property's address is 1231 W 36th Pl, Los Angeles, CA.