$2,995,000

1128 Masselin Ave , Los Angeles, CA 90019

 
Bedrooms:12 beds
Bathrooms:0 baths
(None specified):9,206 sqft
Lot:0.29
Year Built:1948
Listing Status:Active

Listing Agent

James Respondek
http://www.rodeore.com
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Description

Investor gold in Miracle Mile: 1128 Masselin Ave is a pride-of-ownership 12-unit (all 1-bed/1-bath) on an oversized 12,493 sqft LAR3 corner lot that's been family-held and meticulously maintained for 30 years. Three separate entrances and stairwells serve four units each (condo/TIC exit potential), beautiful hardwood floors, updated dual-pane windows, a lush courtyard, on-site laundry and nine private garages (prime ADU/play) keep tenants happy while delivering scheduled gross rent of $286,860/yr, a 10.44 GRM and 6.67 % cap at full occupancy with more upside as legacy rents burn off ($5.39 Actual Cap Rate FY2024). Major systems are in great shape, OPEX is lean (~$87K/yr), and zoning + lot depth invite densification or future redevelopment. Irreplaceable Mid-Wilshire location steps to LACMA, The Grove and Museum Row, and two new Purple-Line Metro stations (.9 & 1.1mi) land next year, super-charging demand and appreciation. At $249K/door this asset checks every box: cash flow, value-add levers and transit-oriented growth in one of LA's most sought-after rental corridors.

Detailed Items

Other Information

1128 Masselin Ave, Los Angeles, CA, 90019 is a (none specified) listing of 9,206 sqft on a lot of 0.29. This (none specified) listing has 12 bedrooms, and 0 baths. The map for this location can be viewed on Google maps at Google maps to property1128 Masselin Ave, Los Angeles, CA
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