447 W 118th Pl, Los Angeles, CA 90061

Mar 5

Written By Jake Glaser

Triplex located in Harbor Gateway North | 36% Rental Upside

Download Offering Memorandum

$575,000

Property Highlights

Triplex located in Los Angeles built in 1948
Unit mix consists of (3) 1BR/1BA units across 1,610 SF of living space
Offered at an attractive $191,666 $/Unit
Each unit averages 537 SF and are separately metered for electricity and gas
15 minutes from LAX & Dockweiler Beach
Situated in a cul-de-sac off of Figueroa St
Corner lot features a gated wraparound patio
Existing 36% of rental upside for future growth
Direct access to the 105 & 110 freeways, the Los Angeles Metro light rail, and close proximity to the South Figueroa Retail Corridor

The Opportunity

The Glaser Group is pleased to present 447 W 118th Pl, a triplex located in the Harbor Gateway North neighborhood of South Los Angeles. Built in 1948, the property is comprised of (3) one-bedroom / one-bathroom units with dual private entrances, a front door and a back door. A gated paved patio space offers parking for up to (5) cars. Unit 447 pays $1,047/month, unit 449 pays $1,122/month, and unit 451 pays $1,458/month. Future investors can capitalize on 36% of rental upside to meet the market with future rent increases. The roof is in good condition, per seller, and the exterior has been recently painted. The units are separately metered for electricity and gas and have laundry hookups (no machines currently installed).

The property is located on a corner lot in a cul-de-sac off of the East side of Figueroa St, with direct access to the 105 & 110 freeways, making it convenient for tenants to commute. This asset offers an opportunity for an investor, particularly an entry-level buyer, to acquire a set of apartments that offer significant rental upside at a lower price point within Los Angeles.