3935 La Salle Avenue, Los Angeles, CA 90062
Property · 2 recorded sales since 2017
Sold February 2020
Listing Agent: Matthew Dunfrund (DRE #01785161) · Listing Office: Lyon Stahl Investment Real Estate, Inc. · Contact: 310-425-9838 · Bought with: CARISSA TSU · IRN REALTY · MLS #SB19226927 · Source: CRMLS
About this property
Huge price reduction so bring your investor/1031 buyers ASAP for this value-add Jeff Park 4Plex at 3935 La Salle Avenue, LA 90062. Now priced at only $999K & a 5.90% current CAP & $267/SF now. The property features a vacant & recently renovated 4+2 unit with a market rent of $3,000/mth (already have lease prospects); two 2+1 units rented for $1,700 & $1,240/mth, and a 1+1 unit rented for $900/mth for a current gross income of $6,840/mth; $82,080/yr. The units are all good sized with 3,743 total rentable SF. At the $999,000 reduced price, the property is priced very competitively at: $249,750/unit; a 12.17 current GRM; a 9.91 market GRM; a 5.90% current CAP; a 7.72% market CAP; and $267/SF. The property also shows as 5 units total on title so there might be the ability to convert the 4 Bedroom unit back into 2 units to add further value & additional income (Buyer to verify with the City). Fantastic location near Jefferson Park/West Adams; Leimert Park; USC/Expo Park & Downtown LA, and very centrally located with easy access to all parts of LA. This 90062 area is a rapidly appreciating South LA submarket, and the property is also only a 0.6M 10-minute walk to the Western/Expo metro train station for direct access from Santa Monica to DTLA & car-less commuting. Let's make a deal before holidays & year-end!
Listing description from the February 2020 sale, as reported to CRMLS.
Sale history
