4313 S Main Street, Los Angeles, CA 90037 (MLS # 24418789)
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**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!
| DAYS ON MARKET | 156 | LAST UPDATED | 10/30/2024 |
|---|---|---|---|
| YEAR BUILT | 1962 | COMMUNITY | Downtown L.A. |
| COUNTY | Los Angeles | STATUS | Active |
| PROPERTY TYPE(S) | Residential Income |
| PRICE HISTORY | |
| Prior to Aug 1, '24 | $2,300,000 |
|---|---|
| Aug 1, '24 - Aug 19, '24 | $2,095,000 |
| Aug 19, '24 - Oct 30, '24 | $1,950,000 |
| Oct 30, '24 - Today | $1,875,000 |
| ADDITIONAL DETAILS | |
| APPLIANCES | Refrigerator, Washer |
|---|---|
| AREA | Downtown L.A. |
| GARAGE | Assigned, Controlled Entrance |
| HEAT | Central |
| LOT | 6757 sq ft |
| PARKING | Assigned,Controlled Entrance |
| STORIES | 2 |
| ZONING | LAC2 |
TOTAL MONTHLY PAYMENT
| SATELLITE VIEW |
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