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$ 895,000
Est. payment /mo
Price Dropped by $30K
1651 W 11th PL Los Angeles, CA 90015
4 Beds
4 Baths
4,904 SqFt
UPDATED:
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 4,904 sqft
Price per Sqft $182
MLS Listing ID 26666377
Bedrooms 4
HOA Y/N No
Year Built 1911
Lot Size 6,128 Sqft
Property Description
This well-located 4-unit value-add apartment community presents a compelling investment opportunity just outside of Downtown Los Angeles. The property offers an ideal blend of stable in-place income and significant upside potential, making it attractive for both seasoned investors and those looking to expand their multifamily portfolio in a high-demand rental market.The asset consists of four spacious one-bedroom units, each featuring a functional layout that includes a separate living room, dining area, and dedicated laundry space. With approximately 1,200 square feet per unit, these residences are substantially larger than typical one-bedroom apartments in the area, providing tenants with a more comfortable and livable environment. This added space enhances tenant retention and supports strong rental demand.Offered at approximately $188 per square foot, the property represents an attractive basis compared to similar assets in the surrounding submarket. The current cap rate of 5.53% provides immediate cash flow, while the projected rental upside of over 24% presents a clear path to increased income for new ownership. This value-add component allows investors to strategically raise rents to market levels over time, significantly improving overall returns.Each unit is separately metered for gas and electric, allowing for reduced operating expenses and more efficient management. This feature enables ownership to pass utility costs directly to tenants, helping maintain stronger net operating income margins.In addition to the existing improvements, the property offers on-site ADU potential at the rear of the lot, providing an opportunity to further increase income and overall asset value. With Los Angeles continuing to support additional housing development, this presents a meaningful long-term upside component.The property is situated in a dense infill location with close proximity to major employment centers, transportation options, and lifestyle amenities. Residents enjoy convenient access to popular destinations such as Crypto.com Arena, L.A. Live, Microsoft Theatre, and the Los Angeles Convention Center. These nearby attractions contribute to the area's strong rental appeal and ongoing demand.Overall, this property offers a rare combination of large unit sizes, favorable pricing, operational efficiency, and future growth potential. With its prime location near Downtown Los Angeles and multiple avenues to increase revenue, it stands out as a strong investment opportunity in one of the most resilient rental markets in the country.
Location
State CA
County Los Angeles
Area C42 - Downtown L.A.
Zoning LARD1.5
Interior
Heating None
Fireplace No
Exterior
Parking Features Driveway
Building
Entry Level Multi/Split
Level or Stories Multi/Split
New Construction No
Others
Senior Community No
Tax ID 5137019020
Special Listing Condition Standard
Listed by Sean Namigohar Lyon Stahl Investment Real Estate, Inc. #01949705