473 21St St Los Angeles, CA 90731

Property Details for 473 21St St

Year built

1951

Property size

1,898 SF

Property type

Commercial real estate

APN

7456-035-001

Description

This exceptional Los Angeles triplex presents a compelling value-add investment opportunity. Boasting 1,898 square feet across three units, this 1-story, 1951-built property sits on a 5,129 square foot lot at 473 W 21st St, Los Angeles, CA 90731 (APN 7456-035-001). Currently operating at 66% occupancy, the property generates a Net Operating Income (NOI) of $49,196, yielding a 5.73% cap rate. A pro-forma analysis projects a significant increase in NOI to $56,225, resulting in a 6.55% cap rate, reflecting the potential for increased rental income. One unit is currently vacant, offering immediate upside potential through market-rate leasing or owner-occupancy. The property includes three parking spaces, with one currently rented at $160 per month. The remaining two spaces offer additional rental income potential at $160 per month each, or the possibility of conversion into accessory dwelling units (ADUs). The asking price is $858,000, translating to $286,000 per unit. This property is situated in an up-and-coming area near new waterfront development, promising strong future appreciation. This is a rare opportunity to acquire a well-maintained multifamily property with substantial upside potential in a desirable Los Angeles location.