680 E 47th ST Los Angeles CA 90011 MLS #26641103

The subject property is a 20-unit apartment complex located in South Los Angeles, just east of the USC campus. The building consists of sixteen singles and four – one-bedroom units. The structure was built in 1924 and contains 11,853 square feet. It is situated on a 13,500 square foot lot which is zoned LAR2. The units are producing almost $20,000 per month and close to $240,000 annually. At list, the GRM is 8.33 and the Cost Per Unit is a very attractive $100,000 per unit. The day one cash flow is almost 8% based on a 35% down payment. Even with those attractive numbers, there is still plenty of upside in the rents, with most doubling upon turnover. This one will not last. Unit sizes are approximate. Buyers to rely on their own investigations