Skip to main content

Multifamily

39th.1420

1420 W 39th St, Los Angeles, CA 90062

Listing Price: $1,100,000

Cap Rate
4.48%
Number of Units
5
GRM
12.72
Price/Unit
$220,000
Price/Gross SF
$247.86
Gross SF
4,438

Investment Overview

• The Neema Group of Marcus & Millichap is pleased to present a multifamily investment opportunity at 1420 W 39th St in the Exposition Park neighborhood of Los Angeles, located just west of Normandie Ave and one mile from the University of Southern California
• The property features two structures, a fourplex and a free-standing bungalow at the rear of the property; the unit mix consists of three two-bedrooms and two one-bedrooms plus dens; the property will be delivered with RTI plans to build two one-bedroom ADU’s (435 SF each); tenants currently use the back of the property for parking
• The property is being offered at $248 PSF with substantial rental upside of over 126%; the ADU’s can be built immediately and existing units can be brought to market over time as units turn
• Alternatively, the 9,731 SF lot zoned LARD2 presents development potential through AB 2345 that could allow for unlimited density and an expedited entitlement process through Executive Directive 1 if a 100% affordable housing project is pursued (Buyer to verify)
• Located in a dense, infill location of Los Angeles with an easy commute to USC, Downtown and Crenshaw; walking distance to multiple Metro local lines on Western Ave & Normandie Ave and a half-mile from the Expo/Western Metro Rail Station

Investment Highlights

  • -
  • -
  • -

Exclusively Listed By

Financing By

Listing Price: $1,100,000

Cap Rate
4.48%
Number of Units
5
GRM
12.72
Price/Unit
$220,000
Price/Gross SF
$247.86
Gross SF
4,438

Investment Highlights

  • -
  • -
  • -

Investment Overview

• The Neema Group of Marcus & Millichap is pleased to present a multifamily investment opportunity at 1420 W 39th St in the Exposition Park neighborhood of Los Angeles, located just west of Normandie Ave and one mile from the University of Southern California • The property features two structures, a fourplex and a free-standing bungalow at the rear of the property; the unit mix consists of three two-bedrooms and two one-bedrooms plus dens; the property will be delivered with RTI plans to build two one-bedroom ADU’s (435 SF each); tenants currently use the back of the property for parking • The property is being offered at $248 PSF with substantial rental upside of over 126%; the ADU’s can be built immediately and existing units can be brought to market over time as units turn • Alternatively, the 9,731 SF lot zoned LARD2 presents development potential through AB 2345 that could allow for unlimited density and an expedited entitlement process through Executive Directive 1 if a 100% affordable housing project is pursued (Buyer to verify) • Located in a dense, infill location of Los Angeles with an easy commute to USC, Downtown and Crenshaw; walking distance to multiple Metro local lines on Western Ave & Normandie Ave and a half-mile from the Expo/Western Metro Rail Station

Exclusively Listed By

Financing By

MM Texture Background
MM Textured Background Lower