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$1,895,000
Est. payment /mo
10,423 Sqft Lot
UPDATED:
Key Details
Property Type Other Types
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
MLS Listing ID SB26217704
HOA Y/N No
Year Built 1954
Lot Size 10,423 Sqft
Property Sub-Type Apartment
Property Description
1861 W Martin Luther King Jr Blvd presents an attractive opportunity to acquire a 12-unit multifamily property in Los Angeles, offered at $1,895,000. The property features a desirable unit mix of (11) 1 Bed/1 Bath units and (1) 2 Bed/1 Bath unit, complemented by 8 on-site parking spaces and a generously sized lot exceeding 10,000 square feet. The property offers strong in-place returns with a 7.56% cap rate and 8.12 GRM, providing investors with an attractive day-one yield and additional upside through future rent optimization. Four units are currently occupied by subsidized tenants, providing a portion of the property's income from government-supported rental programs. Ideally situated in Los Angeles' 90062 submarket, 1861 W Martin Luther King Jr Blvd offers convenient access to major employment centers, retail, transportation, and surrounding neighborhoods. The combination of strong in-place performance, a favorable unit mix, ample parking, and additional rental upside makes this an appealing addition to a multifamily investment portfolio.
Location
State CA
County Los Angeles
Area Phht - Park Hills Heights
Interior
Fireplace No
Laundry None
Exterior
Garage Spaces 8.0
Garage Description 8.0
Pool None
Community Features Curbs, Suburban, Sidewalks
Total Parking Spaces 8
Private Pool No
Building
Lot Description 0-1 Unit/Acre
Story 2
Sewer Public Sewer
Water Public
New Construction No
Others
Senior Community No
Tax ID 5035007012
Acceptable Financing Cash, Cash to New Loan, Conventional, Contract
Listing Terms Cash, Cash to New Loan, Conventional, Contract
Special Listing Condition Standard
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Listed by Aaron Jacobson Lyon Stahl Investment Real Estate, Inc. 310-729-1559, DRE #02100737
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