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+12138349560
Compass
359 E 56th St, Los Angeles, CA 90011
- $860,000
- 6
- BD
- 6
- BA
- 2,976
- SqFt
- Sold Price
- $860,000
- List Price
- $875,000
- Closing Date
- May 18, 2026
- MLS#
- 26641147
- Year Built
- 1923
- Bedrooms
- 6
- Bathrooms
- 6
- Living Sq. Ft
- 2,976
- Lot Size
- 10,591
- Days on Market
- 58
- Property Type
- Multifamily
Property Description
The subject property is a six-unit apartment complex located in South Los Angeles. The units were constructed in 1923 and contain 2,978 square feet. The apartments are situated on a large, 10,588 square foot lot which is zoned LAR2. The buildings consist of all one-bedroom units averaging just under 500 square feet each. The complex gives the feel of individual houses which make it very attractive to prospective tenants. Currently, the apartments are generating $8,112 per month and over $97,000 annually. Also, there is plenty of upside in the rents. At a GRM of 8.98 and $145,000 per unit. This is a great investment opportunity. In 2025, a Capital Improvement of $32,820 was invested in the roof. (That was not included in the regular expenses.)
Additional Information
- Other Buildings
- None
- Heat
- Wall
- Cooling
- None
- Number of Cars in Garage
- Gated
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Courtesy of McAlpin & Company, Jerome McAlpin - CA DRE#00939725 Selling Office: .
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