7408 Elsie StLos Angeles, CA 90001

Property Details for 7408 Elsie St

Year built

1926

Construction

WOOD

Lot size

0.11 AC

Property size (Sq ft)

1,264 SF

Zone code

LCR3*

Property type

Apartment buildings

APN

6024-019-046

APU

6024019046

Description

This exceptional five-unit apartment building, located at 7408 Elsie St in Los Angeles, CA (90001), presents a compelling investment opportunity. Built in 1926, the property boasts 1,264 square feet of rentable space situated on a 4,718 square foot lot. The building features a mix of four single-bedroom/one-bathroom units and one spacious two-bedroom/one-bathroom unit, all individually metered for utilities, maximizing efficiency and minimizing shared costs. Currently fully occupied, this property offers immediate cash flow and is subject to the Los Angeles Rent Stabilization Ordinance (LARSO). The asking price is $900,000, representing $180,000 per unit and a price per square foot of $712. The property's pro-forma cap rate is 9.12%, and the current cap rate is 6.67%. Its location in South Los Angeles, zoned LCR3, provides excellent access to transportation, shopping, and dining, contributing to high tenant demand and retention. This property offers a blend of historical character and modern efficiency, making it an ideal investment for those seeking strong returns in a rapidly appreciating market. The APN is 6024-019-046. The ownership entity is SoLA Impact Fund II LP. This is a rare opportunity to acquire a well-maintained, income-producing asset in a desirable Los Angeles neighborhood.

• CAP approach

  CAP return

  Valuation

  6%

  $454,127

  6.5%

  $419,194

  7%

  $389,251

• Comparable approach

  Method

  Valuation

  Relative Method

  $372,561

  Geo Method

  $372,561

• Alternative Use

  Use

  Valuation

  Residential

  $419,194

  Hospitality

  $383,979

  Educational

  $319,466

  Medical

  $330,453

  Retail

  $496,948

Location Insight

City

Los Angeles

County

Los Angeles

State

California

Latitude

33.973

Longitude

-118.25

CBSA code

31080

CBSA name

LOS ANGELES-LONG BEACH-ANAHEIM, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at support@realmo.com and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

How can I contact the broker?

We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at support@realmo.com.