This partially stabilized asset presents a compelling ~29% rent upside, offering new ownership a path to meaningful short-term gains and long-term growth through targeted updates and strategic tenant turnover. The unit mix(2) 2-Bed/2-Bath units, (6) 1-Bed/1-Bath units, and (2) 2-Bed/2-Bath ADUs strikes a strong balance between stability and flexibility. Larger… Read More units appeal to long-term renters, while smaller units allow for more frequent rent adjustments aligned with market trends. Two income-generating, legally permitted ADUs further enhance the property's earning potential. Located in Mid-City, one of Los Angeles' most central and renter-heavy neighborhoods, the property sits between key employment hubs like Downtown LA, Culver City, Beverly Hills, and Hollywood. With over 63% of households renting and the median homebuyer needing to earn over $222K annually to afford a home, demand for rentals remains high, particularly in relatively affordable, well-located areas like this. Tenants also benefit from access to strong economic drivers, including Cedars-Sinai, USC, the Wilshire Miracle Mile, and key Metro lines, making this a strategically positioned asset for long-term investment. Read Less
Courtesy of Marcus & Millichap 818-212-2700
Listing Snapshot
Days Online
8
Last Updated
Property Type
Other
Beds
10
Square Ft.
6,916
Lot Size
0.16 Acres
Year Built
1964
MLS Number
25555181
30 Days Snapshot Of 90019
$1.49M
+8%
(avg) sold price
8
0%
homes sold
58
-6%
(avg) days on market
Snapshot
Area Map
Additional Details
Appliances & Equipment
Refrigerator
Building
6,916 sq ft, Built in 1964, Levels: Two
Cooling
Wall Unit(s)
Disclosures
None
Garage
Driveway - Concrete
Heating
Wall
Laundry
Community
Lot
LotAcreage: 0.1608, LotSizeArea: 7,004
Parking
TotalParking: 4
Property
NumberOfUnits: 10, Zoning: LARD1.5
Roof
Flat
Utilities
Central Water Heater
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