74
See all 74 photos
$3,700,000
Est. payment /mo
22 Beds
19 Baths
12,137 SqFt
Price Dropped by $275K
8425 S Western AVE Los Angeles, CA 90047
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Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 12,137 sqft
Price per Sqft $304
MLS Listing ID 26653115
Bedrooms 22
HOA Y/N No
Year Built 1960
Lot Size 0.303 Acres
Property Description
We are pleased to announce the opportunity to purchase 19 multifamily units at 8419 and 8425 S. Western Avenue located in the Manchester Square neighborhood of South Los Angeles. With 15 out of 17 original units renovated and two new ADUs, this opportunity will not require any heavy lifting and as most of the work has already been completed. With the overwhelming need for affordable housing in the area, investors can realize an additional 25% upside as units turn over and can maximize on the increasing payments standards from HACLA and Section 8. This opportunity also offers an assumable loan of $2,422,000 with extremely attractive terms that will allow an investor to yield over an 8% cash-on-cash return. Built in 1959 and 1960, the two adjacent properties are comprised of two-story structures that include a unit mix of sixteen 1bed/1bath units and three 2bed/1bath units. Of these units, two of the 1bed/1bath are newer ADUs with split system HVAC. The properties provide tenants with twelve parking spaces that include a combination of tuck-under and open spaces at the rear and 84th Place side of the property. There is no landscaping, and all units are individually metered for gas and electricity. Seismic retrofitting has already been completed and 8425 S. Western has received electrical upgrades. Plumbing upgrades have been completed as units have been renovated. Located east of Western and north of Manchester, 8419 and 8425 S Western is located on one of the main thoroughfares in the city of Los Angeles. Residents of this property are within a short distance to multiple bus stops located on Manchester and St. Andrews Recreation Center. This opportunity is located 2 miles east, or an 8-minute car drive, from The Forum, Sofi Stadium, YouTube Theater, Hollywood Park Casino, and many more restaurants, retail, and places of business located in Inglewood between Century Blvd and Manchester. The property is within a short distance to the 110 Freeway allowing tenants who are commuters with ease of access throughout the city of Los Angeles.
Location
State CA
County Los Angeles
Area C36 - Metropolitan Southwest
Zoning LAC2
Interior
Heating Wall Furnace
Fireplace No
Appliance Refrigerator
Exterior
Parking Features Door-Multi, Garage, Uncovered
Garage Spaces 6.0
Garage Description 6.0
Total Parking Spaces 12
Building
Story 2
Entry Level Two
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 6035024029
Special Listing Condition Standard
Listed by Marcus & Millichap #01887505
Nearby Locations
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