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In-PersonVirtual Tour
$ 1,550,000
Est. payment | /mo
14 Beds
10 Baths
10,598 SqFt
$ 1,550,000
Est. payment | /mo
14 Beds
10 Baths
10,598 SqFt
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 10,598 sqft
Price per Sqft $146
MLS Listing ID 25490129
Bedrooms 14
Construction Status Fixer
HOA Y/N No
Year Built 1909
Lot Size 6,799 Sqft
Property Description
PRIVATE PROPERTY. DO NOT DISTURB TENANTS. Contact the listing agent for a tour. 10-unit multifamily property at 944 South Park View Street in the vibrant MacArthur Park neighborhood of Los Angeles. This historic building, constructed in 1909, offers a total living space of 10,598 SF on a 6,801 SF lot, and is situated in a historic neighborhood with excellent views of the Downtown Los Angeles skyline. PRIME INVESTMENT OPPORTUNITY: This property stands out with its THREE VACANT UNITS, presenting an exceptional chance for investors to acquire a value-add asset at an excellent cost basis. The vacancies include: One rent-ready one-bedroom unit: Ready for immediate leasing at current market rates. Two two-bedroom units: Vacant and in need of renovation, offering the perfect opportunity for investors to customize interiors to their liking and attract tenants of their choosing. Additionally, there is still 44% RENTAL UPSIDE available to a new owner as tenants turnover, even with the three vacancies leased at market rents. With a strong scheduled CAP rate of 6.60% and a very attractive pro-forma CAP rate of 11.03%, positive leverage may be available to qualified borrowers, making this an ideal investment for those looking to maximize returns. PROPERTY HIGHLIGHTS: Location: Just outside Downtown Los Angeles, providing easy access to major employment centers and lifestyle attractions. Accessibility: Close to freeways I-10, I-110, and I-101, connecting residents to Century City, Culver City, West Los Angeles, Hollywood, the San Fernando Valley, and the South Bay. Unit Mix: Four spacious two-bedroom, one-bathroom units and six spacious one-bedroom, one-bathroom units, offering versatility for potential tenants. Interior Features: Excellent interior lighting, large kitchens, dining rooms, bedrooms, and living rooms. Investment Potential: New apartment construction nearby indicates strong future prospects for local real estate investments. The property presents value-add opportunities through renovation, with three vacant units ready for immediate leasing at current market rates.
Location
State CA
County Los Angeles
Area C42 - Downtown L.A.
Zoning LAR4
Interior
Heating Wall Furnace
Cooling Wall/Window Unit(s)
Flooring Carpet, Wood
Fireplace No
Exterior
Parking Features None
View Y/N Yes
View City Lights
Building
Story 2
Entry Level One
Architectural Style Craftsman
Level or Stories One
New Construction No
Construction Status Fixer
Others
Senior Community No
Tax ID 5136004013
Special Listing Condition Standard
Listed by James Keady CB Richard Ellis, Inc.