254 W 83rd Los Angeles, CA 90003
UPDATED:
Key Details
Property Type Apartment
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
MLS Listing ID DW25246676
HOA Y/N No
Year Built 1955
Lot Size 6,756 Sqft
Property Sub-Type Apartment
Property Description
Unit & Building Details
• 10 total bedrooms and 6 full bathrooms. 1 year old ROOF
• Structured as multiple units (6 inferred units) in a low-rise configuration.
• Off-street parking/garage capacity for approximately eight vehicles, providing tenant convenience and upside potential.
• Zoned LAC2 (multifamily residential), offering flexibility for multifamily use and potential value-add strategies
•
• Investment Highlights
• Proven footprint: The large unit count and low per-unit square footage provide strong flexibility for tenant mix, re-tenanting, and income growth.
• Value-add potential: Given the scale of the building and number of units, there is potential to increase rents, optimize expenses, and improve cap rate through active management or refurbishment.
• Location merits: Situated in ZIP 90003, the property benefits from access to Los Angeles's broad rental market, providing both demand and appreciation upside.
Neighborhood & Market Position
The property is located in a stable, urban residential neighborhood of Los Angeles where demand for rental housing remains strong. With this building's characteristics—size, unit count, parking, zoning—it represents a rare offering in this submarket. Given your earlier numbers (purchase price $1.3 M, income ~$100.62 k/yr, expenses ~$32.94 k/yr), the current cap rate is approximately 5.21%, which aligns with solid returns in this market and given potential for growth.
Location
State CA
County Los Angeles
Area C23 - Metropolitan
Interior
Interior Features All Bedrooms Up, All Bedrooms Down
Cooling None
Flooring See Remarks, Stone, Tile, Vinyl
Fireplaces Type None
Fireplace No
Laundry None
Exterior
Fence Wrought Iron
Pool None
Community Features Street Lights
Utilities Available Sewer Connected
View Y/N Yes
Roof Type Shingle
Accessibility None
Private Pool No
Building
Lot Description Paved
Story 2
Entry Level Two
Sewer Public Sewer
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 6031035034
Acceptable Financing 1031 Exchange
Listing Terms 1031 Exchange
Special Listing Condition Standard
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