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1050 W 84TH Pl

Los Angeles, CA 90044
  • $1,370,000
  • STATUS: Active
  • ON SITE: 35 Days
  • MLS #: 22-147485
UPDATED: 19 min ago
$1,370,000
  • 4
    BEDS
  • 0.12
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 3,444
    SQFT
  • $398
    $/SQFT
Neighborhood:
Type:
Multi-Family
Built:
1939
County:

School Ratings & Info

Description

We are pleased to present a six (6) unit apartment building located at 1050 West 84th Place in Los Angeles, California. The subject property is positioned in a solid South Los Angeles location, north of Manchester Avenue and west of Vermont Avenue. Originally built in 1939, this property contains a good unit mix of two (2) newly constructed (2022) ADU studio / one bathroom units and four (4) one bedroom / one bathroom units. Spread across two (2) buildings, all the tenants have Section 8 which guarantees in place positive initial cash flow. Located in the coveted Vermont Knolls neighborhood of South LA, the property features lovely curb appeal, a lush front yard, and a relaxing center courtyard all in a quiet residential pocket with plenty of street parking adjacent to major commercial corridors on Manchester Avenue and Vermont Avenue. Los Angeles County's new Transit Oriented Vermont-Manchester mixed-use project, which was recently awarded $20 million, is also located less than a quarter mile away from the subject property. Tenants will enjoy being just minutes away from the Ram's SoFi Stadium, USC, and Downtown LA. Within walking distance residents can find great restaurant, retail, and recreational amenities such as Wingstop, Bamboo Garden, Alfredo's Mexican Food, Smart & Final, Beauty Supply, and Hardcore Training Gym. Outdoor recreation is also available less than half a mile away at Vermont Miracle Park. Situated in a solid South Los Angeles location, this offering presents an excellent opportunity for an any investor to capitalize on an initial 5.38% cap rate in a gentrifying market of Los Angeles.

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Based on information from the Combined LA/Westside Multiple Listing Service as of 2022-05-24T08:42:42.763. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
www.markwiseproperties.com/homes/127815518
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1050 W 84TH Pl Los Angeles, CA 90044

  • Price: $1,370,000
  • Status: Active
  • On Site: 35 Days
  • Updated: 19 min ago
  • MLS #: 22-147485
4
Beds
0
Baths
0
½ Baths
0.12
Acres
3,444
SQFT
$398
$/SQFT
1939
Built
Neighborhood:
Metropolitan Southwest
County:
Los Angeles
Area:
Metropolitan Southwest
Property Description
We are pleased to present a six (6) unit apartment building located at 1050 West 84th Place in Los Angeles, California. The subject property is positioned in a solid South Los Angeles location, north of Manchester Avenue and west of Vermont Avenue. Originally built in 1939, this property contains a good unit mix of two (2) newly constructed (2022) ADU studio / one bathroom units and four (4) one bedroom / one bathroom units. Spread across two (2) buildings, all the tenants have Section 8 which guarantees in place positive initial cash flow. Located in the coveted Vermont Knolls neighborhood of South LA, the property features lovely curb appeal, a lush front yard, and a relaxing center courtyard all in a quiet residential pocket with plenty of street parking adjacent to major commercial corridors on Manchester Avenue and Vermont Avenue. Los Angeles County's new Transit Oriented Vermont-Manchester mixed-use project, which was recently awarded $20 million, is also located less than a quarter mile away from the subject property. Tenants will enjoy being just minutes away from the Ram's SoFi Stadium, USC, and Downtown LA. Within walking distance residents can find great restaurant, retail, and recreational amenities such as Wingstop, Bamboo Garden, Alfredo's Mexican Food, Smart & Final, Beauty Supply, and Hardcore Training Gym. Outdoor recreation is also available less than half a mile away at Vermont Miracle Park. Situated in a solid South Los Angeles location, this offering presents an excellent opportunity for an any investor to capitalize on an initial 5.38% cap rate in a gentrifying market of Los Angeles.
Exterior Features

Cross Streets Manchester Ave & Vermont Ave Levels Two Lot Description LandscapedLawnFront YardSingle LotSidewalks Lot Location City Lot Size Area 5263 Other Structures Accessory Dwelling Unit Parking Garage On StreetPublic Patio Features BalconyPatio Open Pool Description None Pool YN No Spa None Spa YN No Tennis Court None Tennis YN No Total Parking 0 View Description City View YN Yes

Interior Features

Bathroom Features RemodeledShower Over Tub Baths Total 6.00 Cooking Appliances OvenRangeBuilt-Ins Cooling Air Conditioning Equipment Built-InsRefrigeratorRange/Oven Flooring Wood Heating Wall Kitchen Features RemodeledCounter Top

Property Features

Assessed Total Value 600000 Gross Income 105480 Gross Operating Income 102316 Land Lease Type Fee Like Units1 2 Like Units2 4 Net Operating Income 73647.00 Number Of Buildings 2 Number Of Units 6 Property Condition Additions/Alter Sale Type Standard Source Living Area Other Source Lot Size Area Vendor Enhanced Total Annual Expense 28669 Type Of Units Market Water Heaters YN Yes Year Built Source Vendor Enhanced Zoning Lard1.5

Listing provided courtesy of Jason Tuvia DRE#01772495 of Marcus & Millichap.


Based on information from the Combined LA/Westside Multiple Listing Service as of 2022-05-24T08:42:42.763. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
 
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Mark Wise | Bennion Deville Homes
71691 Highway 111
Rancho Mirage CA, 92270