$1,950,000
- Beds
- 9
- sq ft
- 5,927
4313 S Main St, Los Angeles, CA 90037
4313 S Main St
Los Angeles, CA 90037
- 59 days on market
- Price drop $145,000↓
**2nd Price Reduction** 4313 S Main St presents a phenomenal value-add opportunity within South Los Angeles, near Exposition Park and the Coliseum. While some renovations have already been done to this beautiful property, tremendous value remains to be uncovered in continuing renovations and conversion from 1 to 2 bedrooms for the additional vacant units as well as the addition of 2 ADU units that have already begun the permit process. Built as an 8 unit, the property currently has the benefit of 5 recent vacancies with the potential for more. A 2-bedroom, 2-story townhouse unit has just been completely renovated and is rent-ready. Plans are in place to convert most of the remaining vacancies to 2-bedroom units as well as build an additional two ADU units in the rear carport. Upon lease up at current Section 8 rates, the after-cost CAP rate on this property is pushing 8% with additional upside in turning the remaining occupied units. This offers a buyer looking for long-term stable cash flow an ideal opportunity. The 5 current vacant units will be delivered Rent Ready!
Details
Property type
Lot size
6,757 sq ft
Price per sq ft
$330
Year built
1962
HOA
No
Price History
08/19/2024
CLAW #24418789
Price change
$1,950,000
-6.92%
08/01/2024
CLAW #24418789
Price change
$2,095,000
-8.91%
07/23/2024
CLAW #24418789
Listed
$2,300,000
Schools & Community
Neighborhood:
Southeast Los Angeles
Elementary school:
Unknown
Middle school:
Unknown
High school:
Unknown
Community features: Gated
Community features:
Gated
Status: Active
Tomo last checked: 09/20/2024 at 9:45 AM
Listing updated: 08/19/2024 at 2:53 PM
Listed by: Tim Steuernol, NAI Capital Commercial Inc. Phone #: (818) 905-2400
MLS: CLAW #24418789
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