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    2018 39Th St Los Angeles, CA 90008

    Sponsored
    For Sale
    $1,650,000

    4-Unit Apartment Building, High Income

    Property size:
    4,204 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    397
    This exceptional investment opportunity presents a fully occupied four-unit apartment building situated at 2018 W 39th St, Los Angeles, CA 90008. The property boasts a prime location where Leimert Park and Exposition Park converge, offering convenient access to the 10 and 110 freeways. Approximately two miles from the University of Southern California (USC) and south of Jefferson Park, this location ensures strong rental demand. The 4,204 square foot building, constructed in 1838, features two units upstairs and two downstairs, each with two bedrooms and one bathroom. The property includes on-site laundry facilities and a detached six-car garage, although one space is currently used for laundry equipment. An additional area behind the garage offers potential for creative repurposing. The substantial 8,097 square foot lot presents the possibility of constructing an Accessory Dwelling Unit (ADU), subject to verification with the City of Los Angeles and architectural review. Separate electricity and gas meters simplify management, while mature landscaping provides privacy. The building offers a stabilized investment with a 100% occupancy rate, generating a pro-forma net operating income (NOI) of $79,418 and a pro-forma cap rate of 4.81%. The asking price is $1,650,000, translating to $412,500 per unit and $392.48 per square foot. This is a rare opportunity to acquire a well-maintained, high-income-producing multifamily property in a desirable Los Angeles location.

    Property Features for 2018 39Th St

    General Information

    Property type
    Multifamily properties
    Square Feet
    4,204 SF
    Class
    B

    Building Details

    Year Built
    1838
    Buildings
    1
    Stories
    2
    Units
    4

    HighLights

    • Fully occupied four‑unit apartment building in prime Los Angeles location (Leimert Park/Exposition Park).
    • 4,204 sq ft building on an 8,097 sq ft lot, built in 1838, with two 2 bed/1 bath units upstairs and two downstairs.
    • On‑site laundry and a detached six‑car garage (one space used for laundry). Potential for ADU (buyer to verify).
    • Separate electric and gas meters. 100% occupancy, $79,418 pro‑forma NOI, 4.81% pro‑forma cap rate.
    • Asking price: $1,650,000 ($412,500 per unit, $392.48 per sq ft).
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon Clothing Store Nail Salon Food Market Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Los Angeles
    County
    Los Angeles
    State
    California
    Longitude
    -118.31793046059
    Latitude
    34.014591921381

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    FAQs

    What type of property is this?
    Multifamily property - 4-Unit Apartment Building, High Income
    Where is this multifamily property located?
    The property is located at 2018 39Th St Los Angeles, CA.
    What is the asking price?
    The asking price for this property is $1,650,000.
    What are key features of this property?
    This property features: Fully occupied four-unit apartment building in prime Los Angeles location (Leimert Park/Exposition Park).; 4,204 sq ft building on an 8,097 sq ft lot, built in 1838, with two 2 bed/1 bath units upstairs and two downstairs.; On-site laundry and a detached six-car garage (one space used for laundry). Potential for ADU (buyer to verify).
    Request Owner's contact information
    2018 39Th St Los Angeles, CA 90008
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    Los Angeles, CA 90008
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    2018 39Th St Los Angeles, CA 90008
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