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Search Cali Homes Team
324 W 51st St, Los Angeles, CA 90037
- $1,650,000
- 16
- BD
- 7
- BA
- 5,193
- SqFt
Courtesy of Beverly & Company Luxury Properties, Nicholas Hedberg - CA DRE#02016456
- List Price
- $1,650,000
- Status
- ACTIVE
- Days on Market
- 4
- MLS#
- 26994983
- Style
- Contemporary
- Year Built
- 1922
- Bedrooms
- 16
- Bathrooms
- 7
- Living Area
- 5,193
- Lot Size
- 5,510
- Acres
- 0.13
- Subdivision
- Walter's Moneta Ave and Figueroa St Tract
- Neighborhood
- Walter's Moneta Ave and Figueroa St Tract
- MLS Area Major
- Downtown L.A.
Property Description
Renovated six-unit income property in South Park (South LA). Short sale, subject to lender approval. The 1922 front building was remodeled under 2021-22 LADBS permits into four 3-bedroom units. Two are 3/1.5 down, two are 3/1 up. Two detached 2 bed / 1 bath ADUs have a 2023 Certificate of Occupancy. Renovated kitchens with shaker cabinets, stainless appliances, built-in microwaves and vinyl plank floors. Mini-split heat and AC in every unit. The four front units have dishwashers and in-unit stacked laundry. Gas and electric are separately metered. Water is submetered. Tenants pay gas, electric and trash. Five units also pay water. All six units are leased at $14,657 per month. Four leases began in 2026. 8.0% cap rate and 9.4 GRM at list price on broker-estimated expenses. The front building is under LA rent stabilization. The ADUs are exempt per LAHD. Minutes to USC, Exposition Park and the Lucas Museum. Buyer to verify all figures, permits, unit count and square footage.
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Additional Information
- Interior Features
- Drywall Walls, Recessed Lighting
- Property Description
- Contemporary
- Air Conditioning
- Air Conditioning, Heat Pump(s)
- Stories
- 2
- Pool Type
- None
- School District
- Los Angeles Unified
- View
- None
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