529 W 74th St, Los Angeles, CA 90044

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Sold

529, West 74th Street, Vermont Knolls, Los Angeles, Los Angeles County, CAL Fire Southern Region, California, 90044, United States

$595,500

Overview

Property ID: TheMls 18-344034

Multi Family
Property Type

7
Bedrooms

4
Bathrooms

3,461
Sq Ft

1908
Year Built

Description

529 W 74th Street is a 4-unit value add apartment building located in South Los Angeles, CA. The building is fully occupied and has an excellent unit mix of (3) 2 Bed, 1 Bath units and (1) 1 Bed, 1 Bath unit. The property is comprised of two detached duplexes on one lot, with surface parking access in the rear. The property is currently operating with approximately 76% in potential rental upside, allowing for significant value to be added for the next owner. 529 W 74th Street presents an excellent opportunity for an owner-user or value add investor looking to capitalize on the rapidly growing South LA rental market with the ability to obtain favorable residential financing. South Los Angeles has seen steady growth over the past several years due to its relative housing affordability and convenient proximity to Downtown Los Angeles, Sofi Stadium, USC, Culver City, and South Bay. Rents in South LA have grown significantly over the past two years with average 2-bedroom market rents reaching $2,250-$2,350, a nearly 20% increase from 2020. With low vacancy rates, landlord-favored market conditions, and numerous employment options nearby, South LA is poised for significant long-term growth.

Address

Open on Google Maps

Address 529 W 74th St,
City Los Angeles
State/county California
Zip/Postal Code 90044
Country United States

Details

Updated on July 20, 2023 at 3:51 am

Property ID: TheMls 18-344034
Price: $595,500
Property Size: 3,461 Sq Ft
Land Area: 7,005 Sq Ft
Bedrooms: 7
Bathrooms: 4
Year Built: 1908
Property Type: Multi Family
Property Status: Sold

Additional details

Garage: Driveway
Parking: # of Parking Spaces (Total): 4
Parking: # of Open Other Spaces: 4
Equipment: Built-Ins
Heating & Cooling: Wall/Window Unit Cooling
Heating & Cooling: Wall Heat
Multi-Unit Information: Unit Type Type: 1, 2, 3, 4
Multi-Unit Information: Type Of Units: Apartment
Multi-Unit Information: # of Buildings: 2
Unit 1 Information: # of Beds: 2
Unit 1 Information: # of Baths: 1.00
Unit 1 Information: Projected Rent: $2,300
Unit 2 Information: # of Beds: 2
Unit 2 Information: # of Baths: 1.00
Unit 2 Information: Projected Rent: $2,300
Unit 3 Information: # of Beds: 2
Unit 3 Information: # of Baths: 1.00
Unit 3 Information: Projected Rent: $2,300
Unit 5 Information: # of Beds: 1
Unit 5 Information: # of Baths: 1.00
Unit 5 Information: Projected Rent: $1,700
Building Information: Total Floors: 1
Property Information: Property Type: Residential Income
Community Information: # of Units in Complex (Total): 4
Location Information: Directions: W 74th St, just west of Figueroa St. East of Vermont Ave
Location Information: Cross Streets: Florence Ave and Figueroa St