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Tera Rench

terarenchre@gmail.com +1(262) 370-7299

$1,129,000

Est. payment - /mo

4,800 Sqft Lot

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Key Details

Property Type Other Types

Sub Type Apartment

Listing Status Active

Purchase Type For Sale

MLS Listing ID PW26183901

HOA Y/N No

Year Built 1924

Lot Size 4,800 Sqft

Property Sub-Type Apartment

Property Description

NEW PRICE: $1,129,000 | 5.96% CURRENT CAP | $188,167 PER UNIT

517 W. 42nd Place is a fully occupied, renovated six-unit multifamily property in Los Angeles, offered at $1,129,000. At the new asking price, the property delivers a 5.96% current cap rate and 10.15 GRM, with approximately $111,200 in annual scheduled gross income.

Renovated in 2020, the property consists of four one-bedroom units and two studios across two buildings, totaling 2,984 square feet on a 4,800-square-foot lot. Improvements include updated kitchens, bathrooms, flooring, interiors, and exterior work. The rear building is two stories with one unit on each floor. Gas and electricity are separately metered.

All six units are occupied, including the recently leased final vacancy at $1,793 per month. The property offers approximately $9,480 in remaining annual rent upside based on current pro forma assumptions.

At $188,167 per unit, the investment combines renovated physical condition, fully occupied income, and a manageable path to additional rental income. Located near USC and Exposition Park.

Location

State CA

County Los Angeles

Area C34 - Los Angeles Southwest

Interior

Fireplace No

Laundry None

Exterior

Pool None

Community Features Street Lights, Sidewalks, Urban

Private Pool No

Building

Lot Description 6-10 Units/Acre

Story 2

Sewer Public Sewer

Water Public

New Construction No

Others

Senior Community No

Tax ID 5019015012

Energy Description 2000.0

Acceptable Financing Conventional

Listing Terms Conventional

Special Listing Condition Standard

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Listed by Alexandro Colombo Keller Williams Coastal Prop. 310-978-7950, DRE #01927702

NEARBY SCHOOL & BUSINESS

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517 W 42nd Los Angeles, CA 90037