442 W 93rd Street
Los Angeles, CA 90003
11386 sqft | 29 beds | 0.43 acres | #25483463
Description
We are pleased to introduce, for the first time on market in over 20 years, 442 W 93rd Street. The property consists of an attractive mix of 1 three bedroom + two bath, 10 two bedroom + one bath, 5 one bedroom + one bath and 1 Studio on a huge 18,730 SF Lot. Plentiful parking is available onsite for tenants. Further investment highlights include a low $169,000 per unit, a 9.64 current GRM and the possibility to achieve additional income from adding multiple ADUs. The economics of the offering show immediate returns at the current income level. However, with market rents continuing in an upward trend, an aggressive management approach may realize a significant upside in rental income over the holding period. South Los Angeles is one of the most resilient markets in the region with historically low vacancy rates and consistent rent growth over the same period. Section 8 vouchers are currently at $3,528 for 3-bedroom units, $2,748 for 2-bedroom units, $2,172 for 1-bedroom units, and $1,920 for studio units.
Property Details
- Property SubtypeResidentialIncome
- Property TypeMulti-Family
- CountyLos Angeles
- Original List Price$2,875,000
- MLS #25483463
- MLS #25483463
- Cost2875000
- Square Feet11386
- Acres0.43
- Year Built1939
- Bedrooms29
- Stories2
Location
Legal
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Based on information from California Regional Multiple Listing Service, Inc. as of the most recent time synced and /or other sources. 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
Last Updated:Â . Source: CRMLS
Listing Courtesy
Listing Agent: Enrique Viramontes (#CLW-X76426)
Listing Office: Remax Commercial and Investment Realty (#CLW-X7538301)
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