532 Vernon Avenue , Los Angeles, CA - 90037 is For Sale

  • 22182807
  • 22182807
  • 22182807
  • 22182807
  • 22182807
  • 22182807
  • 22182807
  • 22182807
  • 22182807
  • 22182807
  • 22182807
$2,450,000· Income property

Description

We are pleased to present a five (5) unit brand new construction apartment building located at 532 West Vernon Avenue in Los Angeles, California. The subject property is situated in a solid South Los Angeles Location, south of West Vernon Avenue and west of South Figueroa Street. Built in 2022, this brand new multifamily property contains an incredible unit mix of one (1) one bedroom / one and a half bathroom ADU unit, two (2) three bedroom / three bathroom units, and two (2) four bedroom / four bathroom units all spread across a total of three (3) buildings. These large townhouse style units feature spacious floor plans with the front four (4) units going up three (3) stories each, and the ADU in the rear of the property going up two (2) stories. With USC less than two (2) miles away, this is an excellent off-campus housing option for USC students. Working professionals will also appreciate being less than four (4) miles from Downtown. Outdoor recreation is available less than a mile away at both Exposition Park featuring the Banc of California Stadium to the north, and Julian C. Dixon Park to the south. Solid retail and restaurant amenities are available across numerous surrounding commercial corridors such as Figueroa Street, which is accessible within short walking distance. Situated in a solid South Los Angeles location, this offering presents an excellent opportunity for any investor to capitalize on a non rent controlled, brand new construction asset in a rapidly gentrifying market of Los Angeles.

Features

MLS#: 22182807
List Price : $2,450,000
Total Units : 5
CAP rate : $6.11
Gross Operating Income : $200,208
Net Operating Income : $149,705
Sq M : 673 M2
Year Built : 2022
Days on market : 71 Days
Gross taxes : N/A
Address : 532 Vernon Avenue
City : Los Angeles
State : CA
Zip Code : 90037
Neighborhood : N/A
Stories : 3
Parking Features : Gated, Covered, Uncovered
Sale Type : Standard
Spa : None
 
Property Type : Residential Income
Property Style : Modern
Original List Price : $2,450,000
Acres : 0.1663
Lot Size (Acres) : 0.1663
Heating : Wall Furnace
Parking Features : Gated, Covered, Uncovered
Pool Desc : None
Security Safety : Gated Community
Flooring : Wood
Driving Directions : The subject property is situated in a solid South Los Angeles Location, south of West Vernon Avenue and west of South Figueroa Street.
 
Courtesy of : Jason Tuvia , Marcus & Millichap

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