529 W 74th Street, Los Angeles, CA 90044
Property · 3 recorded sales since 2016
Sold April 2023
Listing Agent: Sagiv Rosano (DRE #01380809) · Listing Office: Rosano Partners · Contact: 213-784-5334 · Bought with: Katya Velasquez · RE/MAX TIME REALTY · MLS #22204633 · Source: CRMLS
About this property
529 W 74th 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) 1 Bed, 1 Bath unit. The property is comprised of two detached duplexes on one lot, with surface parking access in the rear. The property is currently operating with approximately 76% in potential rental upside, allowing for significant value to be added for the next owner. 529 W 74th Street presents an excellent opportunity for an owner-user or value add investor looking to capitalize on the rapidly growing South LA rental market with the ability to obtain favorable residential financing. 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, Sofi Stadium, USC, Culver City, and South Bay. Rents in South LA have grown significantly over the past two years with average 2-bedroom market rents reaching$2,250-$2,350, a nearly 20% increase from2020. With low vacancy rates, landlord favored market conditions, and numerous employment options nearby, South LA is poised for significant long-term growth.
Listing description from the April 2023 sale, as reported to CRMLS.
Sale history
