965 W. 43rd Place, Los Angeles | List @ $800,000.00
A builder/Investor’s dream! This USC adjacent duplex property located near the corner of Vermont Street and West 43rd Place, is in a prime location of L.A. County. This duplex is located in blue-collar South Central which is situated near public transportation and many employment hubs as well as USC and the Museum of Visual Narrative, to be delivered by George Lucas in late 2022. Occupied with long-term tenants, this duplex is within a short distance to Natural History Museum, George Lucas Museum, LA Memorial Coliseum, Banc of California Stadium, University of Southern California, DTLA, Staples Center, 10/110 freeways, and much more! Oh, and did I mention R-3 zoning?
Current Rental Income with long-term tenants:
Unit 1: 4 Beds & 3 Baths | Rent: $2,650.00/month
Unit 2: 3 Beds & 1 Bath | Rent: $2,300.00/month
Current Monthly Rental Income: $4,950.00
* Several options to maximize unit count & rental income:
1) Option 1: To Maximize Unit Count Without New Construction - The oversize detached garage could be converted to a third unit.
Unit 3: 2 Beds & 1 Bath | Potential Rent: $2,050.00/month
Monthly Rental Income: $4950 + $2050 = $7,000.00
2) Option 2: To Maximize Unit Count With New Construction - Build another Fourplex behind the existing Duplex.
Unit 3: 3 Beds & 2 Bath | Potential Rent: $2,600.00/month
Unit 4: 3 Beds & 2 Bath | Potential Rent: $2,600.00/month
Unit 5: 3 Beds & 2 Bath | Potential Rent: $2,600.00/month
Unit 6: 3 Beds & 2 Bath | Potential Rent: $2,600.00/month
Monthly Rental Income: $4,950 + $10400 = $15,3560.00
3) Option 3: To Maximize Unit Count by tearing down the existing duplex and build a 10-unit apartment - This property benefits from a Tier-3 TOC Designation which allows 10 units to be constructed on this R-3 zoning lot.
10 Units: 3 Beds & 2 Bath | Potential Rent: $2,600.00 Each.
Total Monthly Rental Income: $26,000.00