442 W 93Rd Street

Los Angeles, CA 90003

$2,875,000

List Price

29

bed Beds

18

shower Baths

11,386 sqft

straighten / sqft

1939

calendar_month Built

Property Description

We are pleased to introduce, for the first time on market in over 20 years, 442 W 93rd Street. The property consists of an attractive mix of 1 three bedroom + two bath, 10 two bedroom + one bath, 5 one bedroom + one bath and 1 Studio on a huge 18,730 SF Lot. Plentiful parking is available onsite for tenants. Further investment highlights include a low $169,000 per unit, a 9.64 current GRM and the possibility to achieve additional income from adding multiple ADUs. 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 a significant upside in rental income over the holding period. South Los Angeles is one of the most resilient markets in the region with historically low vacancy rates and consistent rent growth over the same period. Section 8 vouchers are currently at $3,528 for 3-bedroom units, $2,748 for 2-bedroom units, $2,172 for 1-bedroom units, and $1,920 for studio units.

Listing Information

List Price $2,875,000
Status Active
MLS 25483463
Type Residential Income
Year Built 1939
Lot Size 18,730
Structure Size 11,386
Courtesy Of Remax Commercial and Investment Realty
Listing Agent Enrique Viramontes DRE#01372010

Interior Features

Total Bedroom
Bedrooms 29
Total Bathroom
Bathrooms 18
Cooling Type
Cooling Type Wall/Window Unit(s)

Exterior Information

Maps

Listing information courtesy of: Enrique Viramontes, Remax Commercial and Investment Realty 213-233-4363. *Based on information from the Association of REALTORS/Multiple Listing as of Jan 15th, 2025 at 11:03 PM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.