552 W. 40th Place, Los Angeles, CA 90037

$1,175,000.00
Sold
552 W 40th Pl, Los Angeles, CA 90037, USA
552 W. 40th Place, Los Angeles Property ID
2,200 SqFt Size
552 W. 40th Place, Los Angeles, CA 90037
552 W. 40th Place, Los Angeles, CA 90037
552 W. 40th Place, Los Angeles, CA 90037
552 W. 40th Place, Los Angeles, CA 90037
552 W. 40th Place, Los Angeles, CA 90037
552 W. 40th Place, Los Angeles, CA 90037
552 W. 40th Place, Los Angeles, CA 90037
552 W. 40th Place, Los Angeles, CA 90037
552 W. 40th Place, Los Angeles, CA 90037
552 W. 40th Place, Los Angeles, CA 90037
552 W. 40th Place, Los Angeles, CA 90037
552 W. 40th Place, Los Angeles, CA 90037
552 W. 40th Place, Los Angeles, CA 90037
552 W. 40th Place, Los Angeles, CA 90037
552 W. 40th Place, Los Angeles, CA 90037
552 W. 40th Place, Los Angeles, CA 90037
552 W. 40th Place, Los Angeles, CA 90037
552 W. 40th Place, Los Angeles, CA 90037
552 W. 40th Place, Los Angeles, CA 90037
552 W. 40th Place, Los Angeles, CA 90037
552 W. 40th Place, Los Angeles, CA 90037
552 W. 40th Place, Los Angeles, CA 90037
552 W. 40th Place, Los Angeles, CA 90037
552 W. 40th Place, Los Angeles, CA 90037
552 W. 40th Place, Los Angeles, CA 90037
552 W. 40th Place, Los Angeles, CA 90037
552 W. 40th Place, Los Angeles, CA 90037
552 W. 40th Place, Los Angeles, CA 90037
552 W. 40th Place, Los Angeles, CA 90037
552 W. 40th Place, Los Angeles, CA 90037
552 W. 40th Place, Los Angeles, CA 90037
552 W. 40th Place, Los Angeles, CA 90037
552 W. 40th Place, Los Angeles, CA 90037
552 W. 40th Place, Los Angeles, CA 90037
552 W. 40th Place, Los Angeles, CA 90037
552 W. 40th Place, Los Angeles, CA 90037
552 W. 40th Place, Los Angeles, CA 90037
552 W. 40th Place, Los Angeles, CA 90037
552 W. 40th Place, Los Angeles, CA 90037
552 W. 40th Place, Los Angeles, CA 90037

Description

Maher Commercial Realty is pleased to offer an excellent opportunity to purchase a fully vacant five-unit apartment building with a stabilized GRM of 8.14 and stabilized cap rate of 7.88%.  Two units are completely remodeled with modern finishes including hardwood floors and stainless steel appliances. Gated off-street parking and an on-site storage unit is available for each unit.

The property is currently striped with 7 parking spaces, has a separate building that includes four storage closets, and has a charming backyard area that can be enjoyed by all residents. If a new owner wanted to add washer and dryer hookups, and AC Units, they might be able to ask as much as $2,407 per month, the Section 8 maximum for 1 bedroom units. Buyer shall determine for themselves how much rent they can obtain from Section 8.

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 or potentially more using AB2345 or other affordable city and state laws.

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.

Property Features:

  • Sale Price: $1,162,500
  • Building Size: 2,200 Sq.Ft.
  • Lot Size: 6,751 Sq.Ft.
  • Zoning: LARD1.5 Toc Tier 3
  • Development Potential: 7-8 Small Lot Homes
  • Number of Units: 5
  • APN: 5019-023-005

Address

  • Address 552 W. 40th Place, Los Angeles, CA
  • Country United States
  • Postal code/ZIP 90037
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Overview

  • Property ID 552 W. 40th Place, Los Angeles
  • Price $1,175,000.00
  • Property Type
  • Property status
  • Size 2,200 SqFt
  • Zoning LARD1.5 Toc Tier 3
  • Units 5
  • Parking Spaces 7

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Contact

Oron Maher

Oron Maher

Property Agent

275 S Beverly Dr, Beverly Hills, CA 90212, USA
(310) 464-1453
MaherCR.com

Oron Maher is a leading commercial real estate veteran and the founder of Maher Commercial Realty, a Beverly Hills-based brokerage specializing in investment sales and leasing transactions across all property types within the Greater Los Angeles Area. With nearly two decades of experience representing high-profile buyers and sellers in the region, including major institutions and REITS, private family offices and individual investors, Oron has arranged over a billion dollars in transactions throughout his career and brings a wealth of knowledge, expertise and an unmatched level of client service to the Greater L.A. market. Oron Maher’s firm’s approach includes a customized approach to each opportunity in order to highlight its unique value, leading to record-breaking sales and long-term client relationships. Prior to launching his firm, Oron served as a broker and national sales leader for BRC Advisors. Prior to that, he spent nine years at Coldwell Banker Commercial, where he oversaw a team ranked in the top one percent of commercial brokers in the nation within the Coldwell network. Oron’s extensive experience as a former real estate attorney, investor, developer and community leader has fortified his work in building a successful brokerage in Los Angeles. Oron Maher holds a bachelor’s degree in business management from California State University, Long Beach and a juris doctorate from the San Francisco Law School. Oron’s entrepreneurial approach to Maher Commercial Realty blends his deep knowledge of the industry with a versatile skillset to secure optimal results across the board. An active community member, Oron has served on more than two dozen non-profit and for-profit boards and chaired the real estate section of the Beverly Hills Bar Association. His passion for giving back and empowering young adults and aspiring businesspeople through mentorship, networking and education led Oron to co-create The Maher Foundation, a nine-month fellowship program which provides development opportunities to recent graduates. BRE#01299093

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