2018 39Th St Los Angeles, CA 90008
- Commercial real estate
- 4,204 SF
Current Use by Public Records
- Commercial real estate
Property Details for 2018 39Th St
- Year built
- 1838
- Property size
- 4,204 SF
- Property type
- Commercial real estate
- APN
- 5035-003-001
Description
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.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Los Angeles
- County
- Los Angeles
- State
- California
- Longitude
- -118.31793046059
- Latitude
- 34.014591921381
