317 W 76th St, Los Angeles, CA 90003

$975,000
9
BD
5
BA
3,820
SqFt
List Price
$975,000
MLS#
24-391935
Year Built
1964
Bedrooms
9
Bathrooms
5
Living Sq. Ft
3,820
Lot Size
5,882
Days on Market
13
Property Type
Multifamily
Stories
2

Property Description

We are pleased to present 317 W 76th St, a value add 5-unit apartment community located in the Florence neighborhood of South Los Angeles, CA. The property is comprised of an excellent unit mix of (4) 2 bed/1 Bath units and (1) 1 Bed/1 Bath unit. There are currently two Section 8 tenants in place (2 bed/ 1 bath) with one of them currently leased for $2,467. There are two units that are significantly below market, offering major upside upon turnover. Section 8 Voucher Payment Standards (per HACLA) are currently up to $3,052 for 2-bedroom units as of 2/2024. The gated property also sits on a 5,880 square feet lot with rear and side alley access and parking for 4 vehicles.317 W 76th St is centrally located just 4 miles from USC and Downtown with convenient access to the 110 freeway and walkability to local amenities along Broadway and Florence Avenue. South Los Angeles has seen significant rent growth over the past several years due to its relative housing affordability and convenient proximity to Downtown Los Angeles, Sofi Stadium, USC, Culver City, and South Bay. Rents in South LA have grown significantly over the past few years with average 2-bedroom market rents reaching $2,300-$2,600 and Section 8 Voucher Payment Standards rising up to $3,052. With low vacancy rates, landlord-favored market conditions, and numerous employment options nearby, South LA is poised for significant long-term growth.

Additional Information

Other Buildings
None
Heat
Wall
Cooling
Wall/Window
Number of Cars in Garage
None
Water
Public

Mortgage Calculator

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Courtesy of Rosano Partners, Brandon Evans - CA DRE#02058494

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