1306 59Th Pl Los Angeles, CA 90044

This exceptional investment opportunity presents a four-unit apartment building situated at 1306 W 59th Pl, Los Angeles, CA 90044. The property, comprised of two side-by-side duplexes built in 1927, sits on a 6,007 square foot lot and boasts a total of 3,072 square feet of net rentable space. Currently operating at 100% occupancy, the property features four renovated one-bedroom units. The asking price is $900,000, translating to $225,000 per unit and $292.97 per square foot. The current Net Operating Income (NOI) stands at $57,824, yielding a 6.42% capitalization rate. However, significant upside potential exists, with a pro-forma NOI projected at $79,217, resulting in an 8.80% pro-forma cap rate. This value-add opportunity is further enhanced by its prime location near LAX, Sofi Stadium, Downtown Los Angeles, and major freeways (105 & 110), as well as the new LAX/Crenshaw metro rail line. The property is zoned LAR2. This presents a compelling investment prospect for those seeking strong returns in a desirable Los Angeles location. The property's strong current performance, combined with the potential for increased rental income, makes this a truly attractive opportunity. The Los Angeles County Assessor's Parcel Number (APN) is 6003-011-011.