Property Detail

Description

224 W 101st St | 3-Unit Multifamily in South Los Angeles. Built in 1923, the property consists of three well-laid-out 2-bed / 1-bath units totaling 1,584 SF on a generous 8,102 SF LAR2 lot. One unit will be delivered vacant at close, creating immediate lease-up or owner-user potential. Two occupied units benefit from Section 8 tenancy, ensuring reliable collections. Priced at $785,000 (~$262K per unit / $496 per SF), the property offers a 7.9% current cap rate and an impressive 9.11% pro forma, with ~56% rental upside available in a neighborhood experiencing steady renter demand and strong transit connectivity.