132 W 74th Street, Los Angeles, CA 90003
Property · 2 recorded sales since 2018
Sold July 2023
Listing Agent: Julio Ruiz (DRE #01911261) · Listing Office: Global Platinum Properties, Inc. · Contact: 818-524-0706 · Bought with: TOM LEO CHAVEZ · TLC REALTY AND INVESTMENTS INC · MLS #23253491 · Source: CRMLS
About this property
Price Reduction! Incredible 4-unit Investment or Owner-User opportunity cash flowing at an amazing 6.9% Cap Rate and 10.7 GRM from Day 1! 4 fully renovated units including a large 5-Bed 2-Bath detached house in the front plus 3 non-rent controlled (1 Bed/1 Bath) units in the rear built-in 1983. The front house was entirely stripped to the studs and thoroughly renovated with permits featuring a new roof, electrical system, plumbing, windows, updated kitchen, renovated bathrooms, and more. Additional upside to 8.2% Cap Rate and 9.3 GRM on proforma. All utilities are individually metered for gas & electricity and preliminary plans for two detached ADUs have been made for the center of the lot. The 7,840 SF lot provides ample parking onsite and the 3 back units, being exempt from LA City Rent Control, can be increased by 10% annually (5% + CPI). Over the past few years, South Los Angeles has experienced consistent expansion due to its reasonable housing prices and convenient location near Downtown LA, Sofi Stadium, USC, Culver City, and South Bay. Rental rates in South LA have surged by almost 25% since 2020. The area's low vacancy rates combined with a landlord-dominant real estate environment and abundant job opportunities nearby indicate that significant long-term growth is on the horizon for South LA.
Listing description from the July 2023 sale, as reported to CRMLS.
Sale history
