3101 W 48th St, Los Angeles, CA 90043

8 Units in Leimert Park | 7.10% Cap Rate & 8.95 GRM | Corner Lot with ADU Potential

Sold: $1,150,000

The Deal Story

CLOSING #29 OF THE YEAR

Sale Price: $1,150,000

Units: 8

Property Type: 8-unit multifamily building on a corner lot, built 1952

Unit Mix: (7) 1-bed / 1-bath units & (1) 2-bed / 1-bath unit

Buyer Type: Experienced multifamily investor with a strong local presence

Seller Situation: Sellers prioritized certainty and a smooth escrow

Result: Generated 8 competitive offers. Accepted a fully non-contingent, all-cash offer with a 45-day close.

Special Features: Gated parking; SB-721 balcony inspection completed and passed; new drought-tolerant landscaping; new exterior paint (2026); many unit interiors updated over the years.

Case Study Summary
This 8-unit Leimert Park property, a well-maintained 1952-built building on a corner lot, sold for $1,150,000. The offering generated 8 competitive offers, and the sellers accepted a fully non-contingent, all-cash offer with a 45-day close.

The sellers' top priority was certainty and a smooth escrow. Our team identified the ideal buyer, an experienced multifamily investor with a strong local presence, whose terms matched that priority. Glaser Group represented both sides of the transaction and coordinated the escrow.

Property Highlights

Corner lot 8-unit building adjacent to Leimert Park
Mix comprised of (7) 1BR/1BA and (1) 2BR/1BA units
Built in 1952, the 5,248 SF building sits on a 7,746 SF lot
Gated parking secures (6) single parking spaces
Property is separately metered for gas and electric
Sizable units average 656 SF each
Many of the unit interiors have been updated
Majority of the electrical sub-panels have been updated over the years. Main disconnect original.
Leased laundry machine brings in additional income
Located in the heart of Los Angeles, central to downtown LA, Inglewood, and Culver City