520 West 120th Street
$7,100,000
50
50
25,550
25,550
$278
Description
This property is available for purchase independently or as part of a 4 property, 118 unit portfolio. Introducing, for the first time on market in over 20 years, a unique opportunity to purchase this four multifamily property portfolio comprised of 118 units in the heart of Los Angeles. The collection includes four large properties that sit on a total of seven parcels and almost 100K sf of land. Each building ranges from 17 to 50 units and has plenty of onsite parking, independent meters for gas...This property is available for purchase independently or as part of a 4 property, 118 unit portfolio. Introducing, for the first time on market in over 20 years, a unique opportunity to purchase this four multifamily property portfolio comprised of 118 units in the heart of Los Angeles. The collection includes four large properties that sit on a total of seven parcels and almost 100K sf of land. Each building ranges from 17 to 50 units and has plenty of onsite parking, independent meters for gas and electricity, and various recent upgrades. The economics of the offering show immediate returns at the current income level. However, with market rents continuing in an upward trend, an aggressive management approach may realize the 75% upside in rental income over the holding period. South Los Angeles is one of the most resilient markets in the region with historical low vacancy rates and consistent rent growth over the same period. Section 8 vouchers are currently at $3,915 for 3-bedroom units, $3,052 for 2-bedroom units, $2,407 for 1-bedroom units, and $2,132 for studio units. The properties are strategically located near access to major freeways, employment, entertainment, and transportation options. SoFi Stadium (LA Rams), the new Intuit Dome (LA Clippers), BMO Stadium (Angel City FC), Los Angeles International Airport, are all within minutes of any of the subject properties.
- Listed by Enrique Viramontes • DRE #01372010 • Brokerage DRE #01164364 • Remax Commercial and Investment Realty
Property Details for 520 West 120th Street
Zoning
LAR3
Parcel Number6117003006
Total Units50.0
Living Area25550
Source Living AreaTitle Company
AreaMetropolitan Southwest (C36)
Vacancy Rate1%
Lot Size Area39955
LISTING UPDATED: 08/30/2024 12:01 AM
Property Details for 520 West 120th Street
Status | Active |
---|---|
MLS # | 24-430909 |
Days on Market | 130 |
Taxes | - |
HOA Fees | - |
Condo/Co-op Fees | - |
Compass Type | Multi Family |
MLS Type | Residential Income |
Year Built | 1956 |
Lot Size | 0.92 AC / 39,955 SF |
County | Los Angeles County |
Building Information for 520 West 120th Street
Stories2Residences-Year Built1956Building Size-Lot Size0.92 AC / 39,955 SF
Property Information for 520 West 120th Street
Property History for 520 West 120th Street
Date | Event & Source | Price | Appreciation |
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Date | Event & Source | Price |
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For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Public Records for 520 West 120th Street
Taxable ValueLand$751,615Additions$416,424Total$1,168,039
Tax Record2024$17,020 ($1,418 / month)
Home Facts
Total Finished SqFt7,250 SqFtAbove Grade Finished SqFt7,250 SqFtLot Size13,693 SqFtStyleMulti-Family Res (5+ Units)Year Built1956ZoningLAR3CountyLOS ANGELESAPN6117-003-006
Schools near 520 West 120th Street
This home is within Los Angeles Unified School District.
Rating | School | Type | Grades | Distance |
---|---|---|---|---|
Public - | K to 5 | |||
Charter - | 6 to 8 | |||
Charter - | 9 to 12 | |||
Public - | 9 to 12 |
Rating | School | Distance |
---|---|---|
West Athens Elementary School PublicK to 5 | ||
Animo Charter Middle No. 3 Charter6 to 8 | ||
Alain Leroy Locke College Prep Academy Charter9 to 12 | ||
University Pathways Medical Magnet Academy Public9 to 12 |
School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.
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