840 W Imperial Highway, Los Angeles, CA 90044
Property
Sold January 2023
Listing Agent: Sagiv Rosano (DRE #01380809) · Listing Office: Rosano Partners · Contact: 213-784-5334 · Bought with: Sagiv Rosano · Rosano Partners · MLS #22204403 · Source: CRMLS
About this property
840 W Imperial Highway is a rare 19-unit investment opportunity located in the Harbor Gateway North neighborhood of South Los Angeles, CA. The building is fully occupied and has an excellent unit mix of (7) Studios, (9) 1 Bed, 1 Bath, (1) 2 Bed, 1 Bath, and (2) 3Bed, 1 Bath units. The property is comprised of one two story structure totalling 11,172 square feet on a 14,400 square feet lot zoned LAR3. The property is currently operating with (14)section 8 tenants, providing a new owner with steady and reliable revenue. Situated just east of the corner of Imperial Hwy and Vermont Ave, the immediate neighborhood offers extremely convenient living with easy access to the 105 and110 freeways, SoFi Stadium and Hollywood Park (4.5 miles),the Vermont / Athens light rail stop (0.3 miles), Los Angeles Southwest College (0.7 miles), Space X (2.5 miles), Downtown Los Angeles, and the South Bay. South Los Angeles has seen steady growth over the past several years due 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-bedroommarket rents reaching $2,250-$2,350, a nearly 20% increase from 2020. 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 January 2023 sale, as reported to CRMLS.
Sale history