We are pleased to present 1115 E 75th St, a 5-unit bungalow apartment community located in the Florence neighborhood of South Los Angeles, CA. The property, including a fully permitted ADU built in 2022, is comprised of an excellent unit mix of (3) 2 bed/1 Bath units, (1) 3 bed/1 Bath unit and (1) 1 Bed/1 Bath unit. There are currently four (4) Section 8 tenants in-place offering excellent security of income and collections. One unit (2bed/ 1 bath) is currently vacant, allowing an investor to capture market or Section 8 rent immediately. Section 8 Voucher Payment Standards (per HACLA) are currently up to $2,407 for 1-bedroom units, $3,052 for 2-bedroom units, and $3,915 for 3-bedroom units as of 2/2024. The gated property also sits on a 5,007 square feet lot with rear and side alley access and parking for 4 vehicles.1115 E 75th St is centrally located just 4 miles from USC and Downtown with convenient access to the 110 freeway and walkability to local amenities along Central Avenue and Florence Avenue. South Los Angeles has seen significant rent growth over the past several years due to its relative housing affordability and convenient proximity to Downtown Los Angeles, Sofi Stadium, USC, Culver City, and South Bay. Rents in South LA have grown significantly over the past few years with average 2-bedroom market rents reaching $2,300-$2,600 and Section 8 Voucher Payment Standards rising up to $3,052. With low vacancy rates, landlord-favored market conditions, and numerous employment options nearby, South LA is poised for significant long-term growth.
Property Type :
Residential Income
County :
Los Angeles
Style :
Residential Income
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ByOwner last updated this listing 06/11/2024 @ 02:17
MLS: 24391941
LISTED BY: Brandon Evans, Rosano Partners
SOURCE: CRMLS
Buyer Agency Description: The listing broker's offer of compensation is made only to participants of the MLS where the listing is filed and if applicable, to participants of reciprocating MLS's as set forth in Association/MLS reciprocal agreements.
