473 21St StLos Angeles, CA 90731

Property Details for 473 21St St

Year built

1951

Property size (Sq ft)

1,898 SF

Property type

Residential income properties

Property subtype

Multifamily properties

Description

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.

Location Insight

City

Los Angeles

County

Los Angeles

State

California

Latitude

33.7249

Longitude

-118.287

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