Deal numbers

A cap rate estimate is not available for this property yet. Ask Alex for a pro forma using comparable rent data.

Property details

Type

Apartment

Bedrooms

6

Building size

2,984 sqft

Lot size

4,800 sqft

Year built

1924

Stories

2

Garage spaces

0

Pool

None

Status

Active

Days on market

56

MLS #

246286021

About this property

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

517 W 42nd

Los Angeles, Los Angeles, CA, 90037