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$ 875,000
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Pending
359 E 56th Street Los Angeles, CA 90011
2,976 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Other
Listing Status Pending
Purchase Type For Sale
Square Footage 2,976 sqft
Price per Sqft $294
MLS Listing ID CL26641147
HOA Y/N No
Year Built 1923
Lot Size 10,591 Sqft
Acres 0.24
Property Sub-Type Other
Property Description
The subject property is a six-unit apartment complex located in South Los Angeles. The units were constructed in 1923 and contain 2,978 square feet. The apartments are situated on a large, 10,588 square foot lot which is zoned LAR2. The buildings consist of all one-bedroom units averaging just under 500 square feet each. The complex gives the feel of individual houses which make it very attractive to prospective tenants. Currently, the apartments are generating $8,112 per month and over $97,000 annually. Also, there is plenty of upside in the rents. At a GRM of 8.98 and $145,000 per unit. This is a great investment opportunity. In 2025, a Capital Improvement of $32,820 was invested in the roof. (That was not included in the regular expenses.)
Location
State CA
County Los Angeles
Zoning LAR2
Interior
Heating Wall Furnace
Cooling None
Fireplace No
Building
New Construction No
Others
Tax ID 5101010004
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Listed by Jerome McAlpin • McAlpin & Company
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