5917 Converse, Los Angeles, CA 90001
5917 Converse, Los Angeles, CA 90001
5917 Converse, Los Angeles, CA 90001
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Nevin Hamilton

Nevin Hamilton

+1(805) 478-2688
$650,000
Est. payment /mo
8,459 Sqft Lot
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Key Details

Property Type Multi-Family

Sub Type Quadruplex

Listing Status Active

Purchase Type For Sale

MLS Listing ID CV26193403

HOA Y/N No

Year Built 1947

Lot Size 8,459 Sqft

Property Sub-Type Quadruplex

Property Description

We are proud to present 5917 Converse Avenue and 1905 E 78th Street — a two-property multifamily portfolio consisting of two separate 4-unit properties located in the Florence-Graham neighborhood of Unincorporated Los Angeles. The properties can be purchase together or individually. 5917 Converse Avenue offers approximately 2,550 SF of rentable living area across two separate structures situated on a generous 8,457 SF lot. The property consists of four 1-bedroom/1-bathroom units, averaging approximately 638 SF per unit. The property is currently generating just over $38,000 in annual rental income, equivalent to approximately $789 per unit per month. An investor familiar with prevailing market rents for comparable units in the surrounding area will recognize a significant opportunity to increase revenue, with the potential to capture more than $1,000 of additional monthly rental income per unit. Upon stabilization, the property offers the potential to achieve an approximately 9.69% CAP Rate and 7.47 GRM. The Florence-Graham neighborhood is a strongly renter-oriented market, with more than 65% of occupied housing units being renter-occupied. Strategically positioned near the I-110, I-105, and I-710 freeways, the portfolio offers convenient access to major employment centers throughout Los Angeles County. Downtown Los Angeles is approximately 6 miles north, providing access to one of the region's largest employment hubs. Tenants also benefit from proximity to the Florence Metro Station, providing rail connectivity to Downtown Los Angeles and Downtown Long Beach. Numerous grocery stores, big-box retailers, neighborhood shops, restaurants, schools, parks, and other daily-needs amenities are located throughout the surrounding area.

Location

State CA

County Los Angeles

Area C37 - Metropolitan South

Interior

Fireplace No

Laundry None

Exterior

Garage Spaces 4.0

Garage Description 4.0

Pool None

Community Features Biking, Curbs, Dog Park, Gutter(s), Park, Storm Drain(s), Street Lights, Sidewalks

Total Parking Spaces 4

Private Pool No

Building

Lot Description 2-5 Units/Acre

Story 2

Entry Level One,Two

Sewer Public Sewer

Water Public

Level or Stories One, Two

New Construction No

Others

Senior Community No

Tax ID 6008038018

Acceptable Financing Cash, Cash to New Loan, Conventional, 1031 Exchange

Listing Terms Cash, Cash to New Loan, Conventional, 1031 Exchange

Special Listing Condition Standard, Trust

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Listed by Justino Faaola COMPASS 626-315-7603, DRE #02038198

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Nevin Hamilton

License ID: 02230652

+1(805) 478-2688 | nevin.t.hamilton@gmail.com

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