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Jim & Jennie Real Estate Group

jimandjennie.re@gmail.com +1(619) 840-2023

$1,475,000

Est. payment - /mo

12 Beds

12 Baths

8,276 SqFt

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UPDATED:

Key Details

Property Type Single Family Home

Listing Status Active

Purchase Type For Sale

Square Footage 8,276 sqft

Price per Sqft $178

MLS Listing ID 26999237

Bedrooms 12

HOA Y/N No

Year Built 1941

Lot Size 0.345 Acres

Property Description

Situated in the highly desirable Pico-Union submarket of Central Los Angeles, these multi-family assets at 924-930 S Grand View Street present a compelling investment opportunity characterized by strong urban infill fundamentals and enduring rental demand. Built in 1941, the properties feature classic architectural character across two well utilized parcels totaling 15,033-square-feet, offering approximately 8,276 gross square feet of residential space. Its strategic location just minutes from Downtown Los Angeles and Koreatown ensures exceptional proximity to major employment hubs, transit corridors, and neighborhood retail amenities, driving consistent tenant pool depth and low historical vacancy. Furthermore, the property's LAR4 zoning designation provides robust underlying land value and future redevelopment potential, making it an ideal acquisition for investors seeking a combination of stable near-term rental cashflow and long-term appreciation in a high-demand submarket. Currently the 2 six-unit buildings are producing $13,559 per month, with, at least, 50% upside upon turnover. The buildings contain 12-1 bedroom units, averaging almost 700sf each. Listed at a 6.1% CAP Rate, a 8.94 GRM and $122,917 CPU, this deal checks all of the boxes. These two buildings are on separate lots with their own APN's.

Location

State CA

County Los Angeles

Area C42 - Downtown L.A.

Zoning LAR4

Interior

Heating Combination

Cooling None

Fireplace No

Appliance Refrigerator

Exterior

Parking Features Garage

Garage Spaces 12.0

Garage Description 12.0

View Y/N No

View None

Total Parking Spaces 12

Building

Story 2

Entry Level Two

Level or Stories Two

New Construction No

Others

Senior Community No

Tax ID 5136005021

Acceptable Financing Cash, Conventional

Listing Terms Cash, Conventional

Financing Cash,Conventional

Special Listing Condition Standard

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Listed by Jerome McAlpin McAlpin & Company #00939725

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Jim & Jennie Real Estate Group

+1(619) 840-2023

Broker/CEO License ID: 01879102

Address not disclosed Los Angeles, CA 90006

Jim & Jennie Real Estate Group

Key Details

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