REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
$ 1,900,000
Est. payment | /mo
15 Baths
4,828 SqFt
$ 1,900,000
Est. payment | /mo
15 Baths
4,828 SqFt
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 4,828 sqft
Price per Sqft $393
MLS Listing ID 26997915
HOA Y/N No
Year Built 1947
Lot Size 6,551 Sqft
Property Description
259 E 41st Place is a 15-unit multifamily property in South Los Angeles, offered at $1,900,000, or $126,667 per unit. Built in 1947, the property totals approx. 4,828 SF, including the ADU, on a 6,551 SF street-to-street lot and is comprised of studio units. Buyer to verify building and ADU square footage. At current rents, the property performs at a 7.27% CAP and 8.11 GRM, giving a buyer a strong in-place return from day one. The property presents as a well-kept multifamily building centered around a broad paved courtyard, mature hedges and palm landscaping, and a clean stucco exterior. The street-to-street lot gives the building a more open layout, while the common areas appear clean and well maintained. 259 E 41st Place features a mix of functional studios and more recently updated units with wood-style flooring, refreshed kitchens and bathrooms, ceiling fans, and updated finishes. Property operating features include master-metered electricity and separately metered gas, while the ADU is separately metered for gas, electricity, and water. Current monthly scheduled income is approx. $19,525, compared with projected income of approx. $21,850. At projected rents, the property is expected to perform at an 8.64% CAP and 7.25 GRM. Located approx. 1.5 miles from both USC and Exposition Park, 259 E 41st Place provides convenient access to the LA Memorial Coliseum, BMO Stadium, Natural History Museum of Los Angeles County, California Science Center, and the broader USC campus. The property also sits across from Gilbert W. Lindsay Recreation Center and near Harmony Missionary Baptist Church, adding recreation and community uses to the immediate neighborhood setting. 259 E 41st Place brings together a $126,667 per-unit basis, a strong current return, a well-kept physical property, and additional income growth still available in the rent roll. With USC and Exposition Park approx. 1.5 miles away, the property offers a straightforward investment story supported by both current performance and location.
Location
State CA
County Los Angeles
Area C42 - Downtown L.A.
Zoning LARD2
Interior
Fireplace No
Laundry Common Area
Exterior
Parking Features None
Community Features Gated
View Y/N No
View None
Total Parking Spaces 1
Building
Story 2
Entry Level Two
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 5113024019
Security Features Gated Community
Special Listing Condition Standard
Listed by Max Berger Compass #02054048
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "