4313 S Main St Active Save Request In-Person Tour Request Virtual Tour
Los Angeles,CA 90037
Key Details
Property Type Multi-Family
Sub Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 5,927 sqft
Price per Sqft $316
MLS Listing ID 24-418789
Bedrooms 9
Year Built 1962
Lot Size 6,757 Sqft
Acres 0.1551
Property Description
**2nd Price Reduction** 4313 S Main St presents a phenomenal value-add opportunity within South Los Angeles, near Exposition Park and the Coliseum. While some renovations have already been done to this beautiful property, tremendous value remains to be uncovered in continuing renovations and conversion from 1 to 2 bedrooms for the additional vacant units as well as the addition of 2 ADU units that have already begun the permit process. Built as an 8 unit, the property currently has the benefit of 5 recent vacancies with the potential for more. A 2-bedroom, 2-story townhouse unit has just been completely renovated and is rent-ready. Plans are in place to convert most of the remaining vacancies to 2-bedroom units as well as build an additional two ADU units in the rear carport. Upon lease up at current Section 8 rates, the after-cost CAP rate on this property is pushing 8% with additional upside in turning the remaining occupied units. This offers a buyer looking for long-term stable cash flow an ideal opportunity. The 5 current vacant units will be delivered Rent Ready!
Location
State CA
County Los Angeles
Area Downtown L.A.
Zoning LAC2
Rooms
Other Rooms None
Interior
Heating Central
Cooling Air Conditioning
Equipment Gas Or Electric Dryer Hookup, Refrigerator, Washer
Laundry Laundry Area
Exterior
Parking Features Assigned, Controlled Entrance
Building
Lot Description Fenced Yard, Fenced
Story 2
Level or Stories Multi/Split
Others
Special Listing Condition Standard