5406 Blackwelder Street, Los Angeles, CA 90016

About this property

BACK ON MARKET! BUYER COULD NOT PERFORM. 5406 Blackwelder is a fully occupied 4-unit apartment building located on a quiet street in the desirable West Adams neighborhood of Los Angeles. The 3,224 sqft building sits on a 4,802 sqft lot, and has a desirable unit mix of (1) 3-bed/2-bath unit, (2) 2-bed/1-bath units, and (1) 1-bed/1-bath unit. In addition to strong in-place rental income of almost $75,000 per year, there is significant opportunity for upside, as 3 of the 4 units are 40-50% below market rents. One of the 2 bedroom units was recently renovated. Independently metered for gas and electricity. The property is directly adjacent to Culver City and a few blocks from 2 Expo Line light rail public transportation stops that go directly to Culver City/Santa Monica to the west and USC/DTLA to the east. This is a unique opportunity to own a low-maintenance apartment building with strong in-place cash flow in a rapidly improving neighborhood. Do not disturb tenants. Drive by only.

Listing description from the August 2018 sale, as reported to CRMLS.

Sale history

$1,190,000

Sold August 2018 · listed $1,215,000, orig. $1,200,000, on market May 2018 · MLS #SB18114199 · Source: CRMLS

Listing Agent: Max Fitzgerald · Listing Office: Manhattan Pacific Realty, Inc. · Contact: 310-379-1724 · Bought with: Jinwook Cho · Dream Realty Asset Mgt, Inc.

$925,000

Sold December 2017 · listed $919,000, on market October 2017 · MLS #17280506 · Source: CRMLS

Listing Agent: Kathie Arastoo · Listing Office: Compass · Contact: 310-230-5478 · Bought with: Max Fitzgerald · Haynes Real Estate

$600,000

Sold August 2013 · listed $565,000, on market June 2013 · MLS #DW13120233 · Source: CRMLS

Listing Agent: Laura D'Hernandez · Listing Office: ReMax College Park Realty · Contact: 562-232-2200 · Bought with: Kathie Arastoo · Coldwell Banker-BH South

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