944 S Park View ST Save Request In-Person Tour Request Virtual Tour
Los Angeles,CA 90006
Key Details
Property Type Multi-Family
Listing Status Active Under Contract
Purchase Type For Sale
Square Footage 10,598 sqft
Price per Sqft $150
MLS Listing ID 25490129
Bedrooms 14
Year Built 1909
Lot Size 6,799 Sqft
Property Description
PRIVATE PROPERTY. DO NOT DISTURB TENANTS. Tours by appointment only. 10-unit multifamily property at 944 South Park View Street in the vibrant MacArthur Park neighborhood of Los Angeles. This historic building, constructed in 1909, offers a total living space of 10,598 SF on a 6,801 SF lot, and is situated in a historic neighborhood with excellent views of the Downtown Los Angeles skyline. PRIME INVESTMENT OPPORTUNITY: This property stands out with its THREE VACANT UNITS, presenting an exceptional chance for investors to acquire a value-add asset at an excellent cost basis. The vacancies include: One rent-ready one-bedroom unit: Ready for immediate leasing at current market rates. Two two-bedroom units: Vacant and in need of renovation, offering the perfect opportunity for investors to customize interiors to their liking and attract tenants of their choosing. Additionally, there is still 44% RENTAL UPSIDE available to a new owner as tenants turnover, even with the three vacancies leased at market rents. With a strong scheduled CAP rate of 6.41% and a very attractive pro-forma CAP rate of 10.72%, positive leverage may be available to qualified borrowers, making this an ideal investment for those looking to maximize returns. PROPERTY HIGHLIGHTS: Location: Just outside Downtown Los Angeles, providing easy access to major employment centers and lifestyle attractions. Accessibility: Close to freeways I-10, I-110, and I-101, connecting residents to Century City, Culver City, West Los Angeles, Hollywood, the San Fernando Valley, and the South Bay. Unit Mix: Four spacious two-bedroom, one-bathroom units and six spacious one-bedroom, one-bathroom units, offering versatility for potential tenants. Interior Features: Excellent interior lighting, large kitchens, dining rooms, bedrooms, and living rooms. Investment Potential: New apartment construction nearby indicates strong future prospects for local real estate investments. The property presents value-add opportunities through renovation, with three vacant units ready for immediate leasing at current market rates.
Location
State CA
County Los Angeles
Area C42 - Downtown L.A.
Zoning LAR4
Interior
Heating Wall Furnace
Cooling Wall/Window Unit(s)
Flooring Carpet,Wood
Exterior
Parking Features None
View Y/N Yes
View City Lights
Building
Story 2
New Construction No
Others
Special Listing Condition Standard