442 93rd Street, Los Angeles, CA 90003
Contact Silva Babaian
Schedule A Showing
Request more information
- MLS#: 25483463 ( Multi-Family )
- Street Address: 442 93rd Street
- Viewed: 8
- Price: $2,875,000
- Price sqft: $0
- Waterfront: No
- Year Built: 1939
- Bldg sqft: 0
- Days On Market: 39
- Additional Information
- County: LOS ANGELES
- City: Los Angeles
- Zipcode: 90003
- Provided by: Remax Commercial and Investment Realty
- Contact: Enrique Enrique
- DMCA Notice
-
DescriptionWe are pleased to introduce, for the first time on market in over 20 years, 442 W 93rd Street. The property consists of an attractive mix of 1 three bedroom + two bath, 10 two bedroom + one bath, 5 one bedroom + one bath and 1 Studio on a huge 18,730 SF Lot. Plentiful parking is available onsite for tenants. Further investment highlights include a low $169,000 per unit, a 9.64 current GRM and the possibility to achieve additional income from adding multiple ADUs. The economics of the offering show immediate returns at the current income level. However, with market rents continuing in an upward trend, an aggressive management approach may realize a significant upside in rental income over the holding period. South Los Angeles is one of the most resilient markets in the region with historically low vacancy rates and consistent rent growth over the same period. Section 8 vouchers are currently at $3,528 for 3 bedroom units, $2,748 for 2 bedroom units, $2,172 for 1 bedroom units, and $1,920 for studio units.
Property Location and Similar Properties
Features
Property Type
- Multi-Family