4077 W 23rd ST Active Save Request In-Person Tour Request Virtual Tour
Los Angeles,CA 90018
Key Details
Property Type Multi-Family
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
Square Footage 8,199 sqft
Price per Sqft $341
MLS Listing ID NP24164220
HOA Y/N No
Year Built 1947
Annual Tax Amount $15,951
Tax Year 2023
Lot Size 0.554 Acres
Acres 0.5539
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.
Location
State CA
County Los Angeles
Area C16 - Mid Los Angeles
Rooms
Other Rooms Living Quarters
Ensuite Laundry Common Area
Interior
Laundry Location Common Area
Heating Wall Furnace
Cooling Wall/Window Unit(s)
Fireplace No
Laundry Common Area
Exterior
Fence Wood
Utilities Available Electricity Connected,Natural Gas Connected
Roof Type Composition
Total Parking Spaces 12
Building
Lot Description 21-25 Units/Acre,Irregular Lot,Lawn,Level,Near Public Transit,Walkstreet
Story 2
Water Public
Additional Building Living Quarters
Others
Tax ID 5060011001
Security Features Smoke Detector(s),Security Lights
Acceptable Financing Cash to New Loan,Government Loan
Listing Terms Cash to New Loan,Government Loan
Special Listing Condition Standard