Executive Summary

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The Neema Group of Marcus & Millichap is pleased to present a multifamily investment opportunity at 1420 W 39th St in the Exposition Park neighborhood of Los Angeles, located just west of Normandie Ave and one mile from the University of Southern California

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The property features two structures, a fourplex and a free-standing bungalow at the rear of the property; the unit mix consists of three two-bedrooms and two one-bedrooms plus dens; the property will be delivered with RTI plans to build two one-bedroom ADU’s (435 SF each); tenants currently use the back of the property for parking

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The property is being offered at $248 PSF with substantial rental upside of over 126%; the ADU’s can be built immediately and existing units can be brought to market over time as units turn

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Alternatively, the 9,731 SF lot zoned LARD2 presents development potential through AB 2345 that could allow for unlimited density and an expedited entitlement process through Executive Directive 1 if a 100% affordable housing project is pursued (Buyer to verify)

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Located in a dense, infill location of Los Angeles with an easy commute to USC, Downtown and Crenshaw; walking distance to multiple Metro local lines on Western Ave & Normandie Ave and a half-mile from the Expo/Western Metro Rail Station