542 W 76th St

01-20-2022
04-04-2022

542 W 76th St, Los Angeles, CA 90044

  • Built in 1957
  • 2 Units Recently Renovated
  • Value Add Opportunity
  • Approx. 36% Upside in Rents
  • Good Potential for ADUs
  • Professionally Managed
  • Proximate to Major Freeways
  • 65 Walk Score

Property Description

The LAAA Team of Marcus & Millichap is pleased to present this 6-unit multifamily investment property located at 542 West 76th Street in the 90044 zip code of Los Angeles. The subject property sits on a 7,000 square foot parcel and consists entirely of 2 Bedroom / 1 Bathroom units.

Two of the six units have been recently renovated and rented for significantly more than what they were being rented for previously. This would be a great model for the next investor to follow as a great way to increase income and add value to the property. Another value-add strategy the new investor could consider would be to allocate the space behind the structure for an ADU, which are now being widely approved by the city and come with far less hurdles during the permitting process.

The subject property resides within close proximity to the I-110 Freeway, offering tenants the ability to easily access nightlife, dining, entertainment, and so much more of what the city has to offer. With proper strategy and sound execution, 542 West 76th Street could become a cash flow machine with the potential to appreciate significantly over time. 

Unit Mix

Description No. of Units Sq ft. Avg. Monthly Rent
2+1 6 0 $ 0

Key Property Information

Listing Status
Available
Price
$ 1,400,000
No. of Units
6
Cap Rate
4.76%
GRM / GIM
13.27
Year Built
1957
Lot Size
7,000 Sq ft
Opportunity Zone
Off
Price per unit
$ 233,333

Financial Details

Gross Income
$ 105,516
Effective Gross Income
$ 102,351
Net Operating Income
$ 66,672
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33.970508, -118.284205

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