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$ 750,000
Est. payment /mo
New
1111 W 47th ST Los Angeles, CA 90037
7 Beds
5 Baths
2,863 SqFt
UPDATED:
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 2,863 sqft
Price per Sqft $261
MLS Listing ID 26863143
Bedrooms 7
HOA Y/N No
Year Built 1927
Lot Size 7,387 Sqft
Property Description
We are pleased to present the opportunity to acquire 1111 W. 47th Street, a value-add five-unit multifamily investment located in the Vermont Square neighborhood of South Los Angeles. Offered below replacement cost, the property provides investors with the opportunity to acquire a well-located, income-producing asset featuring significant rental upside, operational flexibility, and long-term value creation.Built in 1927, the property consists of three separate structures totaling approximately 2,863 square feet of rentable space on a 7,387-square-foot lot. The unit mix includes (3) 1bd/1bd units and (2) 2bd/1ba units, with (1) 1bd unit (detached cottage) to be delivered vacant, providing an immediate opportunity to renovate and lease at market rents.The property also includes (4) single-car garages, which are currently utilized for storage. Based on current market conditions, investors have the opportunity to capture approximately 68% rental upside while exploring the potential to convert the existing garage configuration into one or more Accessory Dwelling Units (ADUs), creating additional rental income and enhancing the property's long-term value (Buyer to Verify).Located three blocks south of W. Vernon Ave. and two blocks west of S. Vermont Ave, the property benefits from access to major transportation corridors, employment centers, educational institutions, and neighborhood amenities, providing strong connectivity throughout Los Angeles.
Location
State CA
County Los Angeles
Area C34 - Los Angeles Southwest
Zoning LAR1
Interior
Heating Wall Furnace
Cooling None
Fireplace No
Appliance Disposal
Building
Entry Level Two
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 5017019010
Special Listing Condition Standard
Listed by Sevak Keshishian Marcus & Millichap #01887505
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