1111 W 47th Street,Los Angeles, CA 90037
Los Angeles, CA 90037
Description
We are pleased to present the opportunity to acquire 1111 W. 47th Street, a value-add five-unit multifamily investment located in the Vermont Square neighborhood of South Los Angeles. Offered below replacement cost, the property provides investors with the opportunity to acquire a well-located, income-producing asset featuring significant rental upside, operational flexibility, and long-term value creation.Built in 1927, the property consists of three separate structures totaling approximately 2,863 square feet of rentable space on a 7,387-square-foot lot. The unit mix includes (3) 1bd/1bd units and (2) 2bd/1ba units, with (1) 1bd unit (detached cottage) to be delivered vacant, providing an immediate opportunity to renovate and lease at market rents.The property also includes (4) single-car garages, which are currently utilized for storage. Based on current market conditions, investors have the opportunity to capture approximately 68% rental upside while exploring the potential to convert the existing garage configuration into one or more Accessory Dwelling Units (ADUs), creating additional rental income and enhancing the property's long-term value (Buyer to Verify).Located three blocks south of W. Vernon Ave. and two blocks west of S. Vermont Ave, the property benefits from access to major transportation corridors, employment centers, educational institutions, and neighborhood amenities, providing strong connectivity throughout Los Angeles.
Details
| MLS # | 26863143 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Active |
| Year | 1927 |
| Days On Site | 61 |
| Listing Provided By | Marcus & Millichap | Sevak Keshishian |
Features
| Bed(s) | 7 |
|---|---|
| Bath(s) | 5 |
| SQ Feet | 2,863 |
| Story(s) | 2 |
| Units | 5 |
| Building(s) | 3 |
| Zoning | LAR1 |
| Acreage | 0.17 |
Interior
| Cooling | None |
|---|---|
| Heating | Wall Furnace |
| Heating Yes / No | Yes |
| Cooling Yes / No | No |
| Appliances | Disposal |
Parking
| Attached Garage Yes / No | No |
|---|
Area Information
| State | CA |
|---|---|
| County | Los Angeles |
| City | Los Angeles |
| Zip Code | 90037 |
| Area | C34 Los Angeles Southwest |
| Listing VS Median (in 90037) | |
Price: $750,000 low | high Med: $795,000 sqft: 2,863 low | high Med: 4,800 $ / sqft: $262 low | high Med: $166 On site: 61 low | high Med: 12 | |
Market Activity 90037
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Learn More About This Property
| State | CA |
|---|---|
| County | Los Angeles |
| City | Los Angeles |
| Zip Code | 90037 |
| Area | C34 Los Angeles Southwest |
| Listing VS Median (in 90037) | |
Price: $750,000 low | high Med: $795,000 sqft: 2,863 low | high Med: 4,800 $ / sqft: $262 low | high Med: $166 On site: 61 low | high Med: 12 | |
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