259 E 41st Pl is a 15-unit multifamily property in South Los Angeles, offered at $1,900,000. That works out to $126,667 per unit. The property performs at a 7.27% CAP rate and 8.11 GRM at current rents, giving a buyer a strong in-place return from day one.
Built in 1947, the property totals approx. 4,828 SF on a 6,551 SF street-to-street lot. It’s made up of studio units arranged around a broad paved courtyard, with mature hedges, palm landscaping and a clean stucco exterior. Several units have been updated with wood style flooring, refreshed kitchens and bathrooms, ceiling fans and updated finishes.
The building is gated, with community laundry and one parking space. Electricity is master metered and gas is separately metered.
Current scheduled income is approx. $19,525 per month, compared with projected income of approx. $21,850. At projected rents, the property moves toward an estimated 8.64% CAP rate and 7.25 GRM.
The property sits across the street from Gilbert Lindsay Recreation Center and Harmony Missionary Baptist Church. It’s approx. 1.5 miles from both USC and Exposition Park, with easy access to the LA Memorial Coliseum, BMO Stadium, and the California Science Center.
101 N Kenmore Ave brings together Spanish-style character, a gated courtyard entry, current income, completed system work, and approx. 25% rental upside in a central Los Angeles location.
At $195,000 per unit and $203 per SF, the property gives buyers a practical price point in Melrose Hill with a clear improvement plan already in place. The appeal is simple: existing income, building character, completed system work, and room to improve rents in a location that continues to connect tenants to several established parts of Central LA.
15 Units
$126,667
4,828 SF
$394
6,551 SF
1947
7.27%
8.11
LARD2
Whether you are thinking about selling now or simply exploring possibilities, we are happy to review your property, discuss current value, and share perspective on how the market is treating assets like yours today.
