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132 74th Street
Los Angeles, CA 90003
Sold
Price Reduction! Incredible 4-unit Investment or Owner-User opportunity cash flowing at an amazing 6.9% Cap Rate and 10.7 GRM from Day 1! 4 fully renovated units including a large 5-Bed 2-Bath detached house in the front plus 3 non-rent controlled (1 Bed/1 Bath) units in the rear built-in 1983. The front house was entirely stripped to the studs and thoroughly renovated with permits featuring a new roof, electrical system, plumbing, windows, updated kitchen, renovated bathrooms, and more. Additional upside to 8.2% Cap Rate and 9.3 GRM on proforma. All utilities are individually metered for gas & electricity and preliminary plans for two detached ADUs have been made for the center of the lot. The 7,840 SF lot provides ample parking onsite and the 3 back units, being exempt from LA City Rent Control, can be increased by 10% annually (5% + CPI). Over the past few years, South Los Angeles has experienced consistent expansion due to its reasonable housing prices and convenient location near Downtown LA, Sofi Stadium, USC, Culver City, and South Bay. Rental rates in South LA have surged by almost 25% since 2020. The area's low vacancy rates combined with a landlord-dominant real estate environment and abundant job opportunities nearby indicate that significant long-term growth is on the horizon for South LA.
PROPERTY INFORMATION
| MLS # | 23253491 | Lot Size | 7,936 Sq. Ft. |
| HOA Fees | $0/Monthly | Property Type | N/A |
| Price | $ 1,195,000
Price Per SqFt: $ 522 |
DOM | 803 Days |
| Address | 132 74th Street | Type | Residential Income |
| City | Los Angeles | Sq.Ft. | 2,290 Sq. Ft. |
| Postal Code | 90003 | Garage | N/A |
| County | Los Angeles | Year Built | 1983 |
| Bed / Bath | 8 / 0 | Parking | N/A |
| Built In | 1983 | Status | Closed |
| Sold Date | 2023-07-28 |
INTERIOR FEATURES
| Has Appliances | Yes |
| Kitchen Appliances | Microwave, Refrigerator |
| Has Heating | Yes |
| Heating Information | Wall Furnace |
| InteriorFeatures Information | Ceiling Fan(s) |
EXTERIOR FEATURES
WALKSCORE
MAP
MORTGAGE CALCULATOR
- Principal & Interest:
- Property Tax: $1,275
- Home Insurance:$119
- HOA Fees:$0
- Mortgage Insurance:
PRICE HISTORY
| Date | Event | Price |
| 03/22/2023 | Listed | $1,250,000 |
Topfind Realty
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(844)-333-8033
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Listing provided courtesy of Julio Ruiz, Global Platinum Properties, Inc.. Based on information from California Regional Multiple Listing Service, Inc. as of #Date#. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.
