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552 W 40th Pl, Los Angeles, CA 90037
$780,000
552 W 40th Pl, Los Angeles, CA 90037View this property at 552 W 40th Pl, Los Angeles, CA 90037
552 W 40th PlLos AngelesCA90037
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Property Description
We are pleased to offer an excellent opportunity to purchase a value-add 5-unit apartment building in the fast-growing South LA submarket of Los Angeles. The property features five one-bedroom units, each with one-bath, on a large 6,751 square foot parcel zoned LARD1.5 TOC Tier 3. There are currently two vacant units at the property with an approximately 70% upside value in rents. The property is zoned LARD1.5 which allows for one small lot subdivision for every 1,500 square feet of land and then a 70% density bonus given the site sits in a TOC Tier 3 zone. So potentially a developer can build 7-8 small lot homes here. Excellent location in the heart of the South Figueroa Corridor just one block south of Exposition Park which includes BMO Stadium, the LA Memorial Coliseum, the California Science Center and the Natural History Museum of Los Angeles County. The University of Southern California is one mile north of the property. Easy access to the 110 Freeway brings you to downtown Los Angeles and beyond. This is a full-authority probate sale, not subject to court confirmation at this time. Per the estate's instructions, all offers will be reviewed on a shared day and time. Seller will prioritize offers that have no contingencies with the ability to close escrow quickly. First showing: Thursday 9/7 from 1-3:00 PM. Second showing: Sunday 09/10 from 1-3:00 PM. Third showing: 09/12 from 11:00 AM -1:00 PM. Offers due: Friday 09/15 by 1:00 PM
Full Property Details
Full Property Details for 552 W 40th Pl
General
- Sold For: $780,000
- Status: Closed
- Type: Multi-Family
- MLS ID: 23-306503
- Added to Site: 261 day(s) ago
Rooms
Bathrooms
- Total Bathrooms: 5
Bedrooms
- Total Bedrooms: 5
Additional Information
- Other Features: None
Parking
- Garage Description: Uncovered
Location
- Area: Downtown L.A.
- County: Los Angeles
- Cross Streets: W. 40th Place and Figueroa Street
- Driving Directions: South on Figueroa Street, West on W. 40th Place.
Heating & Cooling
- Cooling Type: Other
- Heating Type: Other
Structural Information
- # Buildings: 1
- Common Walls: Attached
- Stories/Levels: 1
- Square Feet: 2,200
- Sq. Ft. Source: Vendor Enhanced
- Year Built: 1952
- Year Built Source: Vendor Enhanced
Unit Information
- Units in Complex: 5
- Unit Type: 2106, 2107, 2108, 2109, 2110
Unit 1
- Total Bathrooms: 1
- Bedrooms: 1
Unit 2
- Total Bathrooms: 1
- Bedrooms: 1
Unit 3
- Total Bathrooms: 1
- Bedrooms: 1
Unit 4
- Total Bathrooms: 1
- Bedrooms: 1
Unit 5
- Total Bathrooms: 1
- Bedrooms: 1
Additional Structures
- Other Structures: None
Lot Features
- Lot Size (Acres): 0.155
- Lot Size: 6752
- Lot Size Source: Other
- Zoning: LARD1.5
Financial Considerations
- Price Per Sq. Ft.: $315.91
- Assessment Year: 1952
Disclosures and Reports
- Disclosures/Reports: Probate
- APN: 5019-023-005
Listed and Sold by Maher Probate Realty, Oron Maher
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Schools
Schools serving 552 W 40th Pl
School District:Los Angeles Unified School District
Rating | Name | Grades | Distance |
---|---|---|---|
4156 Menlo Ave, Los Angeles, CA 90037 | K-5 | 0.4 mi | |
1700 W 46th St, Los Angeles, CA 90062 | 6-11 | 1.6 mi | |
4131 S Vermont Ave, Los Angeles, CA 90037 | 9-12 | 0.6 mi |
Disclaimer: School ratings provided by
GreatSchools. Ratings are on a scale of 1-10.
Learn more about GreatSchools ratings.
School attendance boundaries provided by Pitney Bowes and are for reference only. Contact the school directly to verify enrollment eligibility.
Price & Sales History for 552 W 40th Pl
Date
Details
Price
Change
Source
10/19/2023
Sold
$780,000
12.23%
MLS
8/31/2023
Listed
$695,000
—
MLS
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
552 W 40th Pl, Los Angeles, CA 90037 (MLS# 23-306503) is a Multi-Family property that was sold at $780,000 on October 19, 2023. Want to learn more about 552 W 40th Pl? Do you have questions about finding other Multi-Family real estate for sale in Downtown L.A.? You can browse all Downtown L.A. real estate or contact a Coldwell Banker agent to request more information.