5917 Converse,Los Angeles, CA 90001
Los Angeles, CA 90001
Description
We are proud to present 5917 Converse Avenue and 1905 E 78th Street - a two-property multifamily portfolio consisting of two separate 4-unit properties located in the Florence-Graham neighborhood of Unincorporated Los Angeles. The properties can be purchase together or individually. 5917 Converse Avenue offers approximately 2,550 SF of rentable living area across two separate structures situated on a generous 8,457 SF lot. The property consists of four 1-bedroom/1-bathroom units, averaging approximately 638 SF per unit. The property is currently generating just over $38,000 in annual rental income, equivalent to approximately $789 per unit per month. An investor familiar with prevailing market rents for comparable units in the surrounding area will recognize a significant opportunity to increase revenue, with the potential to capture more than $1,000 of additional monthly rental income per unit. Upon stabilization, the property offers the potential to achieve an approximately 9.69% CAP Rate and 7.47 GRM. The Florence-Graham neighborhood is a strongly renter-oriented market, with more than 65% of occupied housing units being renter-occupied. Strategically positioned near the I-110, I-105, and I-710 freeways, the portfolio offers convenient access to major employment centers throughout Los Angeles County. Downtown Los Angeles is approximately 6 miles north, providing access to one of the region's largest employment hubs. Tenants also benefit from proximity to the Florence Metro Station, providing rail connectivity to Downtown Los Angeles and Downtown Long Beach. Numerous grocery stores, big-box retailers, neighborhood shops, restaurants, schools, parks, and other daily-needs amenities are located throughout the surrounding area.
Details
| MLS # | CV26193403 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Active Under Contract |
| Year | 1947 |
| Days On Site | 66 |
| Listing Provided By | COMPASS | Justino Faaola |
Features
| SQ Feet | 2,550 |
|---|---|
| Garage | 4 |
| Story(s) | 1 |
| Units | 4 |
| Building(s) | 2 |
| Acreage | 0.19 |
Exterior
| Lot Features | Two To Five Units Acre |
|---|
Parking
| Garage Yes / No | Yes |
|---|
Utilities
| Sewer | Public Sewer |
|---|
Location
| Community Features | Biking, Curbs, Dog Park, Gutters, Park, Storm Drains, Street Lights, Sidewalks |
|---|
Area Information
| State | CA |
|---|---|
| County | Los Angeles |
| City | Los Angeles |
| Zip Code | 90001 |
| Area | C37 Metropolitan South |
| Listing VS Median (in 90001) | |
Price: $650,000 low | high Med: $749,900 sqft: 2,550 low | high Med: 1,516 $ / sqft: $255 low | high Med: $495 On site: 66 low | high Med: 69 | |
Market Activity 90001
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Learn More About This Property
| State | CA |
|---|---|
| County | Los Angeles |
| City | Los Angeles |
| Zip Code | 90001 |
| Area | C37 Metropolitan South |
| Listing VS Median (in 90001) | |
Price: $650,000 low | high Med: $749,900 sqft: 2,550 low | high Med: 1,516 $ / sqft: $255 low | high Med: $495 On site: 66 low | high Med: 69 | |
