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520 W 120th Street

Los Angeles, CA 90044

– beds
– baths
– sqft
~1 acre lot
1956 build
– on site

THIS PROPERTY IS AVAILABLE FOR PURCHASE INDEPENDENTLY OR AS PART OF A 4 PROPERTY, 118 UNIT PORTFOLIO. Introducing, for the first time on market in over 20 years, a unique opportunity to purchase this four multifamily property portfolio comprised of 118 units in the heart of Los Angeles. The collection includes four large properties that sit on a total of seven parcels and almost 100K sf of land. Each building ranges from 17 to 50 units and has plenty of onsite parking, independent meters for gas and electricity, and various recent upgrades. The economics of the offering show immediate returns at the current income level. However, with market rents continuing in an upward trend, an aggressive management approach may realize the 75% upside in rental income over the holding period. South Los Angeles is one of the most resilient markets in the region with historical low vacancy rates and consistent rent growth over the same period. Section 8 vouchers are currently at $3,915 for 3-bedroom units, $3,052 for 2-bedroom units, $2,407 for 1-bedroom units, and $2,132 for studio units. The properties are strategically located near access to major freeways, employment, entertainment, and transportation options. SoFi Stadium (LA Rams), the new Intuit Dome (LA Clippers), BMO Stadium (Angel City FC), Los Angeles International Airport, are all within minutes of any of the subject properties.

Listed By CRMLS_CA / Enrique Viramontes / Remax Commercial and Investment Realty

Last checked: Checking… • Last updated Aug 30, 2024 •

MLS# 24430909 —

The Building

Year Built:

1956
New Construction:

No
Building Area Total:

25550.00
# of Buildings:

4
Total Number Of Units:

50
Stories Total:

2

Interior

Levels:

Two

Location

Directions:

Located on W 120th st, just west of S Figueroa St
Latitude:

33.92335100
Longitude:

-118.28350600

The Property

Property Type:

Residential Income
Zoning:

LAR3
Lot Size Area:

39955.0000
Lot Size Acres:

0.9172
Lot Size SqFt:

39955.00
Lot Size Source:

Other

Listing Agent

Contact info:

The Listing

Special Listing Conditions:

Standard
Parcel Number:

6117003006

Heating & Cooling

Heating:

1
Heating:

Wall Furnace

Appliances

Included:

Yes

The Community

Senior Community:

No
Association:

No
Assessments:

No

Parking

Parking:

Yes
Parking:

Assigned
Parking Spaces:

50.00

Explore the Area

My Commute

From

Walk Score®

Provided by WalkScore® Inc.

Bike Score®

Provided by WalkScore® Inc.

Transit Score®

Provided by WalkScore® Inc.

Soundscore™

Provided by HowLoud

Sale history

Date	Event	Source	Price	% Change
8/22/24 Aug 22, 2024	Listed / Active	CRMLS_CA	$7,100,000

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This multifamily located in South LA, Los Angeles, CA 90044 is currently for sale for $7,100,000. 520 W 120th Street is a – square foot multifamily with – beds and – baths that has been on Estately for 94 days. 520 W 120th Street is in the South LA neighborhood of Los Angeles and has a WalkScore® of 53, making it somewhat walkable. This multifamily is in the attendance area of Animo Legacy Charter Middle School, Alain Leroy Locke College Preparatory Academy, and West Athens Elementary School.

Listing Courtesy of: CRMLS_CA and Remax Commercial and Investment Realty. Based on information from California Regional Multiple Listing Service, Inc. as of 13:28 on Nov 24.

This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.