Los Angeles, CA 90037 4313 S Main Street
$1,950,000
3 more
Presented By: Tim Steuernol with NAI Capital Commercial Inc.;
Home Details
**2nd Price Reduction** 4313 S Main St presents a phenomenal value-add opportunity within South Los Angeles, near Exposition Park and the Coliseum. While some renovations have already been done to this beautiful property, tremendous value remains to be uncovered in continuing renovations and conversion from 1 to 2 bedrooms for the additional vacant units as well as the addition of 2 ADU units that have already begun the permit process. Built as an 8 unit, the property currently has the benefit of 5 recent vacancies with the potential for more. A 2-bedroom, 2-story townhouse unit has just been completely renovated and is rent-ready. Plans are in place to convert most of the remaining vacancies to 2-bedroom units as well as build an additional two ADU units in the rear carport. Upon lease up at current Section 8 rates, the after-cost CAP rate on this property is pushing 8% with additional upside in turning the remaining occupied units. This offers a buyer looking for long-term stable cash flow an ideal opportunity. The 5 current vacant units will be delivered Rent Ready!
Presented By: Tim Steuernol with NAI Capital Commercial Inc.;
Interior Features for 4313 S Main Street
Bedrooms
Total Bedrooms9
Bathrooms
1/4 Baths0
3/4 Baths0
Half Baths
Total Baths9
Other Interior Features
Air Conditioning Y/NNo
Basement (Y/N)No
Electric On Property Y/NNo
Fireplace Y/NNo
Heating Y/NYes
Total Stories2
General for 4313 S Main Street
Additional Parcels Y/NNo
AppliancesRefrigerator, Washer
Attached Garage No
Carport Y/NNo
CityLos Angeles
Community FeaturesGated
CountyLos Angeles
Days on Market27
DirectionsParking is best on Main St or 43rd.
Entry LocationGround Level w/steps
Facing DirectionEast
Full Baths
Garage Y/NNo
Gross Income272824.0
HeatingCentral
Home Owner AssocNo
Home Warranty Y/NNo
Land Lease Y/NNo
Lease Considered Y/NNo
Lease Renewal Y/NNo
LevelsMultiSplit
Lot Size Square Feet6757.0
Lot Size UnitsSquareFeet
MLS AreaC42 - Downtown L.A.
MobileHomeRemainsYNNo
Net Operating Income187416.0
New ConstructionNo
NumberOfUnitsTotal8
Occupancy TypeTenant
Private PoolNo
Property TypeResidentialIncome
Rent Control Y/NYes
Security FeaturesGatedCommunity
Senior Community Y/NNo
Special Listing ConditionsStandard
Standard StatusActive
StatusActive
View Y/NNo
Waterfront Y/NNo
Year Built1962
ZoningLAC2
Exterior for 4313 S Main Street
Building Area Total5927.0
Crops Included Y/NNo
Horse Y/NNo
Irrigation Water Rights Y/NNo
Lot Size Acres0.1551
Lot Size Area6757.0
Number of Buildings1
Open Parking Y/NNo
Parking FeaturesAssigned, ControlledEntrance
SpaNo
Total Parking0.0
Additional Details
Price History
Stephen Pliaconis
Pliaconis Realty Group REALTOR® DRE 02015480