Property Details
Executive Summary
°°° The Neema Group of Marcus & Millichap is pleased to present a five-unit multifamily investment opportunity at 483 E 49th St in the South Park neighborhood of Los Angeles, located between Avalon Blvd & San Pedro St and just north of the South Park Recreation Center
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The property features two structures, a fourplex made up of two one-bedrooms and two two-bedrooms and a three bedroom ADU at the rear of the property that was constructed in 2022; the ADU is currently vacant
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There are ten parking spaces; gas and electricity are separately metered
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The property is REO Lender owned and is being offered at a low $165,000 per unit and $200 PSF at the asking price
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The ADU totals 886 SF with an open layout between the kitchen and living rooms; the master bedroom has an ensuite bathroom; features include vinyl plank flooring, new appliances, recessed lighting and new cabinetry
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Units within the fourplex are well-maintained with original finishes, but can be further enhanced when unit turnover occurs with new flooring, paint, appliances, lighting enhancements and updated kitchens and bathrooms to achieve market rents
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Located in a dense, infill location of South Los Angeles with an easy commute to Downtown and Vernon; walking distance to multiple Metro local lines on Avalon Blvd and 1.4 miles from the Metro A Rail Line
