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4077 W 23Rd Street

Los Angeles, CA 90018

$2,800,000

List Price

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bed Beds

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shower Baths

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1947

calendar_month Built

Property Description

Offered for the 1st time in 21 years, this is a rare opportunity to own a fully occupied 12 unit apartment building situated on slightly more than 1/2 acre lot, with loads of off street parking. The property is within a rent-controlled zone. However, having two separate buildings presents the opportunity to make comprehensive upgrades, one building at a time, bringing rents up to market scale when done. Recent renovations in some units include new flooring, updated kitchens, and modern bathrooms. Mid-City LA is renowned for its historical significance and vibrant cultural scene. As part of the "West Adams" district, this area is home to numerous historic landmarks and has a rich architectural heritage. This neighborhood has been a focal point for cultural development, attracting a diverse community that values both its history and its evolving urban landscape. This property is strategically positioned near key business and cultural hubs. Only 6 miles from Downtown provides easy access to financial and business districts. USC is just over 5 miles away. The close proximity to major transportation routes, including the Metro Expo Line, ensures excellent connectivity across LA. And LAX is just 10 miles away. This property which seldom has vacancies, was tied up in Probate 5 years, missing out on rent price increases that entire time. When a savvy investor rehabs the property, enhancing efficiencies & bringing it to current building standards, there will be tremendous upside in both income and market value.

Listing Information

List Price $2,800,000
Status Active
MLS NP24164220
Type Commercial
Subtype Multi Family
Year Built 1947
Lot Size 24,130
Structure Size N/A
DOM 7
Courtesy Of Wendy Hooper Ross, Broker
Listing Agent Wendy Ross DRE#01449478

Interior Features

Laundry Information
Location(s) Common Area
Total Bedroom
Bedrooms N/A
Total Bathroom
Bathrooms N/A
Cooling Type
Cooling Type Wall/Window Unit(s)

Exterior Information

Other Structures
Structures Living Quarters

Maps

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Listing information courtesy of: Wendy Ross, Wendy Hooper Ross, Broker . *Based on information from the Association of REALTORS/Multiple Listing as of Sep 30th, 2024 at 6:09 PM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.