4313 S Main Street
Los Angeles, CA 90037
5927 sqft | 9 beds | 0.16 acres | #24418789
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!
Property Details
- Property SubtypeResidentialIncome
- Property TypeMulti-Family
- CountyLos Angeles
- Original List Price$2,300,000
- MLS #24418789
- MLS #24418789
- Cost1875000
- Acres0.1551
- Square Feet5927
- Year Built1962
- Bedrooms9
- Stories2
Location
Legal
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Last Updated: . Source: CRMLS
Listing Courtesy
Listing Agent: Tim Steuernol (#CLW-C138002)
Listing Office: NAI Capital Commercial Inc. (#CLW-X82972)
Note: The results shown are estimates only and do not include all factors. Speak with a licensed agent or loan provider for exact details. This tool is sourced from CloseHack.
