CA > Los Angeles
Los Angeles, CA 90006,944 S Park View ST
Los Angeles, CA 90006,944 S Park View ST
Los Angeles, CA 90006,944 S Park View ST
Los Angeles, CA 90006,944 S Park View ST
Los Angeles, CA 90006,944 S Park View ST
Los Angeles, CA 90006,944 S Park View ST
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Amin Zarif

Amin Zarif

+1(949) 226-1789
$ 1,590,000
Est. payment | /mo

14 Beds

10 Baths

10,598 SqFt

Save
$ 1,590,000
Est. payment | /mo
Save

14 Beds

10 Baths

10,598 SqFt

Key Details

Property Type Multi-Family

Listing Status Active Under Contract

Purchase Type For Sale

Square Footage 10,598 sqft

Price per Sqft $150

MLS Listing ID 25490129

Bedrooms 14

Construction Status Fixer

HOA Y/N No

Year Built 1909

Lot Size 6,799 Sqft

Property Description

PRIVATE PROPERTY. DO NOT DISTURB TENANTS. Tours by appointment only. 10-unit multifamily property at 944 South Park View Street in the vibrant MacArthur Park neighborhood of Los Angeles. This historic building, constructed in 1909, offers a total living space of 10,598 SF on a 6,801 SF lot, and is situated in a historic neighborhood with excellent views of the Downtown Los Angeles skyline. PRIME INVESTMENT OPPORTUNITY: This property stands out with its THREE VACANT UNITS, presenting an exceptional chance for investors to acquire a value-add asset at an excellent cost basis. The vacancies include: One rent-ready one-bedroom unit: Ready for immediate leasing at current market rates. Two two-bedroom units: Vacant and in need of renovation, offering the perfect opportunity for investors to customize interiors to their liking and attract tenants of their choosing. Additionally, there is still 44% RENTAL UPSIDE available to a new owner as tenants turnover, even with the three vacancies leased at market rents. With a strong scheduled CAP rate of 6.41% and a very attractive pro-forma CAP rate of 10.72%, positive leverage may be available to qualified borrowers, making this an ideal investment for those looking to maximize returns. PROPERTY HIGHLIGHTS: Location: Just outside Downtown Los Angeles, providing easy access to major employment centers and lifestyle attractions. Accessibility: Close to freeways I-10, I-110, and I-101, connecting residents to Century City, Culver City, West Los Angeles, Hollywood, the San Fernando Valley, and the South Bay. Unit Mix: Four spacious two-bedroom, one-bathroom units and six spacious one-bedroom, one-bathroom units, offering versatility for potential tenants. Interior Features: Excellent interior lighting, large kitchens, dining rooms, bedrooms, and living rooms. Investment Potential: New apartment construction nearby indicates strong future prospects for local real estate investments. The property presents value-add opportunities through renovation, with three vacant units ready for immediate leasing at current market rates.

Location

State CA

County Los Angeles

Area C42 - Downtown L.A.

Zoning LAR4

Interior

Heating Wall Furnace

Cooling Wall/Window Unit(s)

Flooring Carpet, Wood

Fireplace No

Exterior

Parking Features None

View Y/N Yes

View City Lights

Building

Story 2

Entry Level One

Architectural Style Craftsman

Level or Stories One

New Construction No

Construction Status Fixer

Others

Senior Community No

Tax ID 5136004013

Special Listing Condition Standard

California Regional MLS (CRMLS)
Listed by James Keady • CB Richard Ellis, Inc.
agent
Amin Zarif

Real Estate Agent & Loan Officer | License ID: 02076931

+1(949) 226-1789 | realestateaminzarif@gmail.com

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944 S Park View ST