1054 Browning Blvd Los Angeles, CA 90037

This exceptional 5-unit apartment building, located at 1054 Browning Blvd, Los Angeles, CA 90037, presents a compelling value-add investment opportunity. The property, a charming Hollywood Bungalow-style compound, boasts 3,903 square feet of net rentable space across two 1-story buildings, situated on a 7,084 square foot lot. Currently operating at 100% occupancy, the property generates a $57,428 Net Operating Income (NOI), representing a 4.99% cap rate at the asking price of $1,100,000 ($220,000 per unit). However, a significant upside exists, with a pro-forma NOI of $118,066 and a pro-forma cap rate of 10.27%. Recent capital improvements include the installation of all-copper plumbing, fresh exterior paint, and new fascia boards. The property also benefits from five on-site parking spaces and separate gas and electric meters for each unit. Its prime location in the Exposition Park neighborhood places it within easy reach of USC, the Lucas Museum, BMO Stadium, and Exposition Park, offering strong rental demand. The property has recently passed the LAHD S.C.E.P. inspection. The permitted zoning is Lard1.5. The land value is $162.33 per square foot. Built in 1911, this property offers a blend of historical charm and significant income potential. Buyer to independently verify bedroom counts and square footage.