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

Bedrooms

5

Building size

1,264 sqft

Lot size

4,720 sqft

Year built

1926

Stories

1

Heating

Wall Furnace

Cooling

None

Status

Active

Days on market

8

MLS #

247126202

About this property

We are pleased to present 7408 Elsie St, a 5-unit building located in South Los Angeles, offered at a 7.41 GRM and an 8.12% CAP on actual rents, with upside potential to achieve a 7.29 GRM and an 8.33% CAP with market rents. The property is comprised of one, single-story building consisting of a total of 1,264 RSF. Built in 1926, the property sits on a low coverage 4,720 SF LCR3 zoned corner lot with street access on three sides, allowing for a fully parked property with great ingress/egress which may allow for the flexibility of adding ADU(s) while retaining uncovered parking. The unit mix features one (1) two-bedroom one-bathroom unit and four (4) studio units. One studio unit and the two-bedroom unit will be delivered VACANT, and 3 out of 5 units have been renovated. Located between E 75th St and E Florence Ave, nearby Franklin D. Roosevelt Park, Leon H Washington Park, Parmelee Avenue Elementary School, Edison Middle School and Miramonte Elementary School, this location offers fantastic proximity to the Florence Metro A Line and numerous transit stops off of E Florence Ave, providing easy access to Downtown Los Angeles and neighboring communities such as Huntington Park, Walnut Park, Cudahy, South Gate and more. Contact the listing broker for additional information.

Location

7408 Elsie Street

Los Angeles, Los Angeles, CA, 90001