613 83Rd StLos Angeles, CA 90001

Property Details for 613 83Rd St

Year built

1920

Construction

WOOD

Lot size

0.14 AC

Property size (Sq ft)

3,679 SF

Zone code

LAR3

Property type

Residential income properties

Property subtype

Other apartment buildings

APN

6032-021-003

APU

6032021003

Description

This exceptional 5-unit apartment building, located at 613 E 83rd St, Los Angeles, CA 90001, presents a compelling investment opportunity in South Los Angeles. The property boasts 1,920 square feet on a 5,741 square foot lot, built in 1927 and zoned LAR2. Currently priced at $650,000 ($162,500 per unit and $339 per square foot), it offers a compelling 7.76% cap rate and a pro-forma cap rate of 12.55%. The building's strong performance is attributed to its high occupancy rate and stable tenant base, benefiting from convenient access to major transportation corridors and nearby amenities. The South Los Angeles location is experiencing rapid development and rising property values, promising significant long-term growth potential. This multifamily property provides a balance of consistent cash flow and capital appreciation, making it an attractive investment for those seeking both immediate returns and future value growth in a thriving neighborhood. The property's Class C designation reflects its current condition, offering potential for value enhancement through future improvements. The Los Angeles County Assessor's Parcel Number (APN) is 6029-016-006. Ownership is held by SoLA Impact Fund II LP. This is a rare opportunity to acquire a well-positioned multifamily asset in a rapidly appreciating market.

Location Insight

City

Los Angeles

County

Los Angeles

State

California

Latitude

33.9635

Longitude

-118.285

CBSA code

31080

CBSA name

LOS ANGELES-LONG BEACH-ANAHEIM, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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