3101 W 48th St, Los Angeles, CA 90043

8 Units in Leimert Park | 6.63% Cap Rate & 9.45 GRM | Corner Lot with ADU Potential

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$1,350,000

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

The Opportunity

The Glaser Group is pleased to present 3101 W 48th Street, a well-maintained 8-unit multifamily property ideally positioned on a corner lot adjacent to the highly desirable Leimert Park neighborhood of Los Angeles. Built in 1952, the property represents an opportunity to acquire a centrally located asset with a stable unit mix and meaningful value-add upside in one of the city's most supply-constrained rental submarkets. The offering is priced at $168,750 per unit, reflecting a 6.63% cap rate and a 9.45 GRM.

The property encompasses approximately 5,248 square feet of living space on a 7,746 SF lot and features a unit mix of (7) 1BR/1BA and (1) 2BR/1BA units. The sizable units average 656 square feet each, appealing to a broad renter profile. Many of the unit interiors have been updated over the years, offering a strong foundation for continued repositioning and incremental rent growth.

Ownership has completed some capital improvements in recent years. The majority of the electrical sub panels have been updated, and the property is separately metered for both gas and electricity. The required CA state SB-721 balcony inspection has been completed and passed. New drought-friendly landscaping has also been refinished, reducing ongoing maintenance costs and improving curb appeal. The building also received brand new exterior paint (2026).

The property offers gated parking with (6) secured single spaces, and a leased laundry machines generate supplemental income for the ownership. The corner lot configuration presents strong ADU potential (Buyer to Verify), providing a compelling avenue for future expansion and increased cash flow.

Ideally situated in the vibrant Leimert Park submarket, 3101 W 48th Street benefits from strong and consistent rental demand driven by its central position within Los Angeles and convenient proximity to downtown Los Angeles, Inglewood, and Culver City, as well as access to major employment centers, retail, dining, and transportation corridors.