4077 W 23rd Street Los Angeles, CA 90018
Offered for the 1st time in 21 years, this is a rare opportunity to own a fully occupied 12 unit apartment building situated on slightly more than 1/2 acre lot, with loads of off street parking. The property is within a rent-controlled zone. However, having two separate buildings presents the opportunity to make comprehensive upgrades, one building at a time, bringing rents up to market scale when done. Recent renovations in some units include new flooring, updated kitchens, and modern bathrooms. Mid-City LA is renowned for its historical significance and vibrant cultural scene. As part of the "West Adams" district, this area is home to numerous historic landmarks and has a rich architectural heritage. This neighborhood has been a focal point for cultural development, attracting a diverse community that values both its history and its evolving urban landscape. This property is strategically positioned near key business and cultural hubs. Only 6 miles from Downtown provides easy access to financial and business districts. USC is just over 5 miles away. The close proximity to major transportation routes, including the Metro Expo Line, ensures excellent connectivity across LA. And LAX is just 10 miles away. This property which seldom has vacancies, was tied up in Probate 5 years, missing out on rent price increases that entire time. When a savvy investor rehabs the property, enhancing efficiencies & bringing it to current building standards, there will be tremendous upside in both income and market value.
- Property TypeMulti-Family
- NeighborhoodN/A
- CountyLos Angeles
- Taxes$15,951
- HOA/Condo/Coop Fees$0
- Days on Site47 Days
- MLS StatusActive
- MLS ID NumberNP24164220
- Home Size Source Assessor
- Year Built1947
- Lot Size0.5539 Acres
- Full BathsN/A
- Partial BathsN/A
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General Features
- Construction Stucco
- Building Features Living Quarters
- Parking Spaces 12
- Number of Stories 2
- Acreage 0.5539
- Water Public
- Security Security LightsSmoke Detector(s)
- Property Sub Type Multi Family
- Utilities Electricity ConnectedNatural Gas Connected
- Listing Conditions Standard
Interior Features
- Cooling Wall/ Window Unit(s)
- Heating Wall Furnace
- Laundry Features Common AreaCommunity
Exterior Features
- Roof Composition
- Fencing Wood
- Lot 21-25 Units/ AcreLawnLot 20000-39999 SqftIrregular LotLevelNear Public TransitWalkstreet
Community Features
- MLS Area C16 - Mid Los Angeles
- Security Features Security LightsSmoke Detector(s)
- Building Features Living Quarters