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7662 S MAIN ST $2,280,000

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    7662 S MAIN ST LOS ANGELES, CA 90003

    • 12 Beds
    • 12 Baths
    • 7,040 sq. ft.
    • Multi-Family
    • MLS# 22-171327
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    Views: 4 Days On Site: 52

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    Property Details

    We are pleased to present the opportunity to acquire 7662-7674 South Main Street, a twelve-unit apartment building in the Florence neighborhood of Los Angeles. Built in 1956, the property consists of two six-unit structures over two separate parcels. The building sits on two lots totaling 10,194 square feet with 7,040 of rentable space and is comprised of all two-bedroom one-bathroom units. The property provides tenants with on-site, gated parking (12 spaces) and the electricity and gas are both individually metered. With over 59% upside in rental income, the property provides an astute investor a unique value-add opportunity, potential capital gain deferment and long-term cash flow. Located South of West Florence and East of South Broadway, the property is centrally and just a short drive to the 110 and 105 freeways. The property is also walking distance from many local retail shops, restaurants and the 77th street community police station providing a safe environment for the local community.

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    Neighborhood

    90003 (LOS ANGELES) Demographics

    29 Median Age
    20,870 Population Density (per sq. mile)
    10% College Educated
    $42,220 Estimated Median Income
    4,717 Estimated Total Home Owners
    12,825 Estimated Total Renters
    27% / 73% Estimated Owner / Renter Divide
    4 Estimated Average Household Size
    74,117 Total Population
    Community data courtesy of LiveBy, Inc.

    Market Last 30 Days In This Postal Code

    $540,000 Median Sales Price
    12 Homes Sold
    19 New On Market

    Average Days on Site

      Properties for Sale

        Calculations provided by Reliance Network

        Property History

        Date Event Price Percent Change
        -- Current Price Source: Multiple Listing Service New Value: $2,280,000
        8/3/2022 8:55:39 PM Status Changed Source: Multiple Listing Service New Value: Pending
        6/22/2022 7:42:00 PM New in Database Source: Multiple Listing Service New Value: $2,280,000

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        ** Assumes 3.5% APR, 20% down payment, and conventional 30-year fixed rate first mortgage. Rates cited are for instructional purposes only; current rates are subject to change at any time without notice. You should not make any decisions based simply on the information provided. Additional required amounts such as taxes, insurance, homeowner association dues, assessments, mortgage insurance premiums, flood insurance or other such required payments should also be considered. Contact your mortgage company for current rates and additional information.


        Note: All room dimensions, including square footage data, are approximate and must be verified by the buyer. The information contained herein is furnished by the owner to the best of his/her knowledge but is subject to verification by the purchaser, and agent assumes no responsibility for the correctness thereof. The sale offering is made subject to errors, omissions, change of price, prior sale, or withdrawal without notice. In accordance with the Law, this property is offered without respect to race, color, creed, national origin, sex, familial status or disability. This is not intended to solicit property currently listed.