$1,625,000
$1,725,000
5.8%For more information regarding the value of a property, please contact us for a free consultation.
4 Beds
13 Baths
4,358 SqFt
SOLD DATE : 10/02/2024
Key Details
Sold Price $1,625,000
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Square Footage 4,358 sqft
Price per Sqft $372
MLS Listing ID 24402825
Sold Date 10/02/24
Bedrooms 4
HOA Y/N No
Year Built 1950
Lot Size 0.413 Acres
Acres 0.4133
Property Description
1016 W. 110th Street is an 11-unit apartment community located in unincorporated Los Angeles. The opportunity consists of three (3) separate structures on an extremely large 18,003 square foot lot. Each unit is separately metered for gas and electricity and has its own parking space. Unit composition includes ten (10) studio units and a 4-bedroom/3-bathroom house with a pool and front yard. The rents are close to market; however, there is still approximately 9% rental upside that can be achieved as the units turnover. Tenants have easy access to the 105 & 110 Freeway which connects the subject property to Downtown Los Angeles and the beaches. Lastly, as the new construction pipeline continues to grow in South Los Angeles, the ability for a new owner to get higher rents will increase over time as projects such as the 84-unit apartment next door is set to be completed by 2025.
Location
State CA
County Los Angeles
Area C36 - Metropolitan Southwest
Zoning LCR320U*
Interior
Heating None
Cooling None
Fireplace No
Exterior
Garage Covered
Parking Type Covered
Total Parking Spaces 16
Building
Story 1
Entry Level One
Level or Stories One
New Construction No
Others
Senior Community No
Tax ID 6076013007
Special Listing Condition Standard
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Bought with Julian Bloch • Keller Williams Realty
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "
Scott Greenspan
Broker Owner