Property Detail

Description

We are pleased to offer 972 W. 47th Street, a fully occupied five-unit multifamily investment property located in Los Angeles, California 90037. The property offers an attractive unit mix consisting of three two-bedroom, one-bathroom units, and two three-bedroom, two-bathroom units. The improvements total approximately 4,300 rentable square feet and are situated on two adjacent parcels (APN #'s 5018-010-020 & 5018-010-023) totaling approximately 6,760-square-feet. The property also provides ample on-site parking for residents. Offered at $1,100,000, the property represents a stable, income-producing investment opportunity with an attractive 7.30 gross rent multiplier and a 9.06% capitalization rate. The property is currently fully occupied, providing an investor with immediate and consistent rental income from the date of acquisition. Recent capital improvements include four of the units being recently renovated within the last six years prior to tenant move-in as well as a recently installed Ring security system. The property also allows future ADU potential with a large rear garage/storage area that can be converted to increase rental income (buyer to verify). With its strong current cash flow, favorable unit mix, recent improvements, and full occupancy, 972 W. 47th Street offers investors a compelling opportunity to acquire a stabilized multifamily asset at an attractive basis in the Los Angeles market.