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552 40th Place
Los Angeles, CA 90037
Sold
We are pleased to offer an excellent opportunity to purchase a value-add 5-unit apartment building in the fast-growing South LA submarket of Los Angeles. The property features five one-bedroom units, each with one-bath, on a large 6,751 square foot parcel zoned LARD1.5 TOC Tier 3. There are currently two vacant units at the property with an approximately 70% upside value in rents. The property is zoned LARD1.5 which allows for one small lot subdivision for every 1,500 square feet of land and then a 70% density bonus given the site sits in a TOC Tier 3 zone. So potentially a developer can build 7-8 small lot homes here. Excellent location in the heart of the South Figueroa Corridor just one block south of Exposition Park which includes BMO Stadium, the LA Memorial Coliseum, the California Science Center and the Natural History Museum of Los Angeles County. The University of Southern California is one mile north of the property. Easy access to the 110 Freeway brings you to downtown Los Angeles and beyond. This is a full-authority probate sale, not subject to court confirmation at this time. Per the estate's instructions, all offers will be reviewed on a shared day and time. Seller will prioritize offers that have no contingencies with the ability to close escrow quickly. First showing: Thursday 9/7 from 1-3:00 PM. Second showing: Sunday 09/10 from 1-3:00 PM. Third showing: 09/12 from 11:00 AM -1:00 PM. Offers due: Friday 09/15 by 1:00 PM
PROPERTY INFORMATION
| MLS # | 23306503 | Lot Size | 6,752 Sq. Ft. |
| HOA Fees | $0/Monthly | Property Type | N/A |
| Price | $ 695,000
Price Per SqFt: $ 316 |
DOM | 611 Days |
| Address | 552 40th Place | Type | Residential Income |
| City | Los Angeles | Sq.Ft. | 2,200 Sq. Ft. |
| Postal Code | 90037 | Garage | N/A |
| County | Los Angeles | Year Built | 1952 |
| Bed / Bath | 5 / 0 | Parking | 8 |
| Built In | 1952 | Status | Closed |
| Sold Date | 2023-10-19 |
INTERIOR FEATURES
| Has Appliances | Yes |
| Kitchen Appliances | Refrigerator |
EXTERIOR FEATURES
WALKSCORE
Walk Score: 87 (Very Walkable)
Transit Score: 75 (Excellent Transit)MAP
MORTGAGE CALCULATOR
- Principal & Interest:
- Property Tax: $741
- Home Insurance:$119
- HOA Fees:$0
- Mortgage Insurance:
PRICE HISTORY
| Date | Event | Price |
| 10/19/2023 | Sold | $780,000 |
| 09/01/2023 | Sold | $695,000 |
Topfind Realty
REALTOR®
(844)-333-8033
Questions? Contact today.
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Listing provided courtesy of Oron Maher, Maher Probate Realty. 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.
