We are pleased to present the opportunity to acquire an 8-unit multifamily property located in the Vermont Square neighborhood of South Los Angeles. Built in 1922, the property features a classic courtyard layout with gated access and a desirable unit mix of (6) 1Bed/1Bath and (2) 2Bed/1Bath units. One 1-bedroom… Read More unit may become vacant in the near future, providing an opportunity for a new owner to capture additional rental income. The property includes eight (8) individual one-car garages with alley access and is individually metered for gas and electricity, minimizing operating expenses for ownership. The building offers 4,992 square feet of rentable space on an oversized 11,372 square foot LAR4-zoned lot, providing strong in-place income with approximately 37% rental upside and long-term redevelopment potential, including the opportunity to add ADUs for additional income. Situated near Normandie Avenue and 54th Street, residents benefit from convenient access to public transportation, retail amenities, and major employment centers. The property is a short drive from USC, Exposition Park, and Downtown Los Angeles, as well as major sports and entertainment venues including SoFi Stadium, The Forum, and the upcoming Intuit Dome. Easy access to the 10 and 110 Freeways further enhances connectivity throughout Greater Los Angeles. Read Less
Courtesy of Marcus & Millichap 818-212-2700
Listing Snapshot
Days Online
150
Last Updated
Property Type
Other
Beds
10
Square Ft.
4,992
Lot Size
0.26 Acres
Year Built
1922
MLS Number
25612459
30 Days Snapshot Of 90062
$893k
+4%
(avg) sold price
2
-50%
homes sold
120
+10%
(avg) days on market
Snapshot
Area Map
Additional Details
Appliances & Equipment
None
Building
4,992 sq ft, Built in 1922, Levels: One
Cooling
None
Disclosures
None
Garage
4 total garage spaces, Garage Is Detached, Garage - 4+ Car
Heating
Wall
Lot
LotAcreage: 0.2611, LotSizeArea: 11,375
Parking
TotalParking: 0
Property
NumberOfUnits: 8, Zoning: LAR2
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