552 W 40th Place Los Angeles, CA 90037
5 bed / 5 bath / 2,200 Sq. Ft. / 6,752 Sq. Ft., 0.155 acres lot size / Other
Status: Sold
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We are pleased to offer an excellent opportunity to purchase a value-add 5-unit apartment building in the fast-growing South LA submarket of Los Angeles. The property features five one-bedroom units, each with one-bath, on a large 6,751 square foot parcel zoned LARD1.5 TOC Tier 3. There are currently two vacant units at the property with an approximately 70% upside value in rents. The property is zoned LARD1.5 which allows for one small lot subdivision for every 1,500 square feet of land and then a 70% density bonus given the site sits in a TOC Tier 3 zone. So potentially a developer can build 7-8 small lot homes here. Excellent location in the heart of the South Figueroa Corridor just one block south of Exposition Park which includes BMO Stadium, the LA Memorial Coliseum, the California Science Center and the Natural History Museum of Los Angeles County. The University of Southern California is one mile north of the property. Easy access to the 110 Freeway brings you to downtown Los Angeles and beyond. This is a full-authority probate sale, not subject to court confirmation at this time. Per the estate's instructions, all offers will be reviewed on a shared day and time. Seller will prioritize offers that have no contingencies with the ability to close escrow quickly. First showing: Thursday 9/7 from 1-3:00 PM. Second showing: Sunday 09/10 from 1-3:00 PM. Third showing: 09/12 from 11:00 AM -1:00 PM. Offers due: Friday 09/15 by 1:00 PM
property details
Type
Other
Status
Closed
County
Los Angeles
Year Built
1952
Beds
5
Sq. Ft.
2,200
Lot Size
6,752 Sq. Ft., 0.2 acres
Listing Id
23306503
Courtesy Of
Oron Maher - Maher Probate Realty +1 310 464 1453
List Office Phone
+1 310 464 1453
Interior Features
Appliances
Refrigerator
Living Area Units
Sq. Ft.
Bathrooms Total
5
Exterior Features
Stories
1
Parking Spaces
8
Utility & Building Info
Parcel Number
5019023005
Building Area Total
2,200 Sq. Ft.
Price Per Sq Ft
$316
Architectural Style
1 Story
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The data relating to real estate for sale on this display comes in part from the Internet Data Exchange program of the above MLS system. Real estate listings held by brokerage firms other than Berkshire Hathaway HomeServices Drysdale Properties are marked with the Internet Data Exchange and detailed information about them includes the names of the listing brokers and listing agents.
Price History
| date | event | price | source |
|---|---|---|---|
|
10/20/2023
10/20/2023
|
Sold |
$780,000
|
CA Regional MLS (CRMLS) |
|
09/20/2023
09/20/2023
|
Pending |
$695,000
|
CA Regional MLS (CRMLS) |
|
09/01/2023
09/01/2023
|
Active |
$695,000
|
CA Regional MLS (CRMLS) |
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Market Trends
Source: Constellation1
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