11
See all 11 photos
$1,000,000
Est. payment /mo
6 Beds
5 Baths
4,076 SqFt
New
9321 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 4,076 sqft
Price per Sqft $245
MLS Listing ID 26106388
Bedrooms 6
HOA Y/N No
Year Built 1946
Lot Size 5,702 Sqft
Property Description
We are pleased to present 9321 S Western Avenue, a mixed use investment opportunity with 3 apartment units and 2 retail spaces in Gramercy Park, Los Angeles. The property is comprised of two detached structures totaling 4,076 SF with a unit mix of all (1) 1 Bed / 1 Bath, (1) 2 Bed / 1 Bath units, (1) 3 Bed / 1 Bath units, and (2) Retail Spaces. The 3 Bedroom unit will be delivered vacant. The property will be delivered with a projected gross monthly income of $9,343 (upon lease up of vacant 3 bedroom unit), or $112,119 annually. The opportunity yields a 7.3% Cap Rate on current income (8.92 GRM). 9321 S Western Ave is centrally in the heart of Gramercy Park, just 2 miles east of SoFi Stadium / Hollywood Park with convenient access to LAX, South Bay, Inglewood, and Culver City. South Los Angeles has seen significant 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 few years. With low vacancy rates, landlord-favored market conditions, and numerous employment options nearby, South LA is poised for significant long-term growth.
Location
State CA
County Los Angeles
Area C36 - Metropolitan Southwest
Zoning LARD1.5
Interior
Heating Wall Furnace
Cooling Wall/Window Unit(s)
Fireplace No
Appliance Refrigerator
Exterior
Parking Features Driveway, Gated, One Space
Total Parking Spaces 5
Building
Story 2
Entry Level Multi/Split
Level or Stories Multi/Split
New Construction No
Others
Senior Community No
Tax ID 6057006017
Special Listing Condition Standard
Listed by Brandon Evans Lyon Stahl Investment Real Estate, Inc. #02058494
NEARBY SCHOOL & BUSINESS
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