1128 Masselin Avenue
Los Angeles, CA 90019
- – beds
- – baths
- – sqft
- 12,497 sqft lot
- 1948 build
- – on site
Investor gold in Miracle Mile: 1128 Masselin Ave is a pride-of-ownership 12-unit (all 1-bed/1-bath) on an oversized 12,493 sqft LAR3 corner lot that's been family-held and meticulously maintained for 30 years. Three separate entrances and stairwells serve four units each (condo/TIC exit potential), beautiful hardwood floors, updated dual-pane windows, a lush courtyard, on-site laundry and nine private garages (prime ADU/play) keep tenants happy while delivering scheduled gross rent of $286,860/yr, a 10.44 GRM and 6.67 % cap at full occupancy with more upside as legacy rents burn off ($5.39 Actual Cap Rate FY2024). Major systems are in great shape, OPEX is lean (~$87K/yr), and zoning + lot depth invite densification or future redevelopment. Irreplaceable Mid-Wilshire location steps to LACMA, The Grove and Museum Row, and two new Purple-Line Metro stations (.9 & 1.1mi) land next year, super-charging demand and appreciation. At $249K/door this asset checks every box: cash flow, value-add levers and transit-oriented growth in one of LA's most sought-after rental corridors.
Last checked:
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Last updated Apr 27, 2025
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MLS# 25529795 —
The Building
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Year Built:1948
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New Construction:No
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Building Area Total:9206.00
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Total Number Of Units:12
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# of Buildings:2
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Stories Total:2
Interior
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Levels:Two
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Flooring:Wood
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Laundry:Community
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Laundry:1
Location
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Directions:https://maps.app.goo.gl/2En1ShiqZsEHJQ8g9
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Latitude:34.05484100
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Longitude:-118.35590500
The Property
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Property Type:Residential Income
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Zoning:LAR3
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Lot Size Area:12497.0000
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Lot Size Dimensions:119x105
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Lot Size Acres:0.2869
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Lot Size SqFt:12497.00
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Lot Dimensions Source:Assessor
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Security Features:Gated Community
Listing Agent
- Contact info:
- No listing contact info available
The Listing
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Special Listing Conditions:Standard
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Parcel Number:5085005010
Appliances
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Included:Yes
The Community
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Association:No
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Senior Community:No
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Assessments:No
Parking
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Parking Spaces:9.00
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Garage Spaces:9.00
Walk Score®
Provided by WalkScore® Inc.
Walk Score is the most well-known measure of walkability for any address. It is based on the distance to a variety of nearby services and pedestrian friendliness. Walk Scores range from 0 (Car-Dependent) to 100 (Walker’s Paradise).
Bike Score®
Provided by WalkScore® Inc.
Bike Score evaluates a location's bikeability. It is calculated by measuring bike infrastructure, hills, destinations and road connectivity, and the number of bike commuters. Bike Scores range from 0 (Somewhat Bikeable) to 100 (Biker’s Paradise).
Transit Score®
Provided by WalkScore® Inc.
Transit Score measures a location's access to public transit. It is based on nearby transit routes frequency, type of route (bus, rail, etc.), and distance to the nearest stop on the route. Transit Scores range from 0 (Minimal Transit) to 100 (Rider’s Paradise).
Soundscore™
Provided by HowLoud
Soundscore is an overall score that accounts for traffic, airport activity, and local sources. A Soundscore rating is a number between 50 (very loud) and 100 (very quiet).
Sale history
| Date | Event | Source | Price | % Change |
|---|---|---|---|---|
|
4/25/25
Apr 25, 2025
|
Listed / Active | CRMLS_CA | $2,995,000 |
