1640 E 49th Street, Los Angeles, CA 90011

About this property

1640 E 49th Street is a 4-unit value add apartment building located in South Los Angeles, CA. The building is fully occupied and has an excellent unit mix of(3) 2 Bed, 1 Bath units and (1) 3 Bed, 1 Bath unit. The property also includes ample surface parking with room for 4-5 cars and access from Morgan Avenue and 49thStreet. The property is currently operating with approximately 85% in rental upside, allowing for significant value to be added for the next owner. South Los Angeles has seen steady growth over the past several years due to its relative housing affordability and convenient proximity to Downtown Los Angeles, Huntington Park, Vernon, and Orange County. Rents in South LA have grown significantly over the past two years with average 2 bedroom market rents reaching $2,250, a nearly 20% increase from2020. With low vacancy rates, landlord favoredmarket conditions, and numerous employment options nearby, South LA is poised for significant long-term growth.

Listing description from the January 2023 sale, as reported to CRMLS.

Sale history

$780,000

Sold January 2023 · listed $875,000, orig. $1,000,000, on market September 2022 · MLS #22204717 · Source: CRMLS

Listing Agent: Sagiv Rosano · Listing Office: Rosano Partners · Contact: 213-784-5334 · Bought with: Sagiv Rosano · Rosano Partners

$605,000

Sold August 2019 · listed $659,000, on market June 2019 · MLS #319002170 · Source: CRMLS

Listing Agent: Dennis Smith · Listing Office: Maximum Realty & Property Mgn. · Contact: 626-407-5667 · Bought with: Dennis Smith · Maximum Realty & Property Mgn.

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