520 W 120th ST, Los Angeles, CA 90044 – 24430909

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Gatehouse Properties

info@gatehouseproperties.com +1(714) 743-9882

$ 7,100,000

Est. payment | -/mo

50 Beds

50 Baths

25,550 SqFt

Save

$ 7,100,000

Est. payment | -/mo

Save

50 Beds

50 Baths

25,550 SqFt

Key Details

Property Type Multi-Family

Listing Status Active

Purchase Type For Sale

Square Footage 25,550 sqft

Price per Sqft $277

MLS Listing ID 24430909

Bedrooms 50

HOA Y/N No

Year Built 1956

Lot Size 0.917 Acres

Property Description

THIS PROPERTY IS AVAILABLE FOR PURCHASE INDEPENDENTLY OR AS PART OF A 4 PROPERTY, 118 UNIT PORTFOLIO. Introducing, for the first time on market in over 20 years, a unique opportunity to purchase this four multifamily property portfolio comprised of 118 units in the heart of Los Angeles. The collection includes four large properties that sit on a total of seven parcels and almost 100K sf of land. Each building ranges from 17 to 50 units and has plenty of onsite parking, independent meters for gas and electricity, and various recent upgrades. The economics of the offering show immediate returns at the current income level. However, with market rents continuing in an upward trend, an aggressive management approach may realize the 75% upside in rental income over the holding period. South Los Angeles is one of the most resilient markets in the region with historical low vacancy rates and consistent rent growth over the same period. Section 8 vouchers are currently at $3,915 for 3-bedroom units, $3,052 for 2-bedroom units, $2,407 for 1-bedroom units, and $2,132 for studio units. The properties are strategically located near access to major freeways, employment, entertainment, and transportation options. SoFi Stadium (LA Rams), the new Intuit Dome (LA Clippers), BMO Stadium (Angel City FC), Los Angeles International Airport, are all within minutes of any of the subject properties.

Location

State CA

County Los Angeles

Area C36 - Metropolitan Southwest

Zoning LAR3

Interior

Heating Wall Furnace

Fireplace No

Exterior

Garage Assigned

Total Parking Spaces 50

Building

Story 2

Entry Level Two

Level or Stories Two

New Construction No

Others

Senior Community No

Tax ID 6117003006

Special Listing Condition Standard

Listed by Enrique Viramontes • Remax Commercial and Investment Realty

+1(714) 743-9882

info@gatehouseproperties.com

Costa Mesa, CA, 92626, United States

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