359 E 56TH STREET, LOS ANGELES CA 90011
- 2,976 sq.ft.
- 10,591 sq.ft. lot
Property Description
The subject property is a six-unit apartment complex located in South Los Angeles. The units were constructed in 1923 and contain 2,978 square feet. The apartments are situated on a large, 10,588 square foot lot which is zoned LAR2. The buildings consist of all one-bedroom units averaging just under 500 square feet each. The complex gives the feel of individual houses which make it very attractive to prospective tenants. Currently, the apartments are generating $8,112 per month and over $97,000 annually. Also, there is plenty of upside in the rents. At a GRM of 8.98 and $145,000 per unit. This is a great investment opportunity. In 2025, a Capital Improvement of $32,820 was invested in the roof. (That was not included in the regular expenses.)
Listing Courtesy of Jerome McAlpin, McAlpin & Company
Interior Features
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