4313 S Main Street

Description

**2nd Price Reduction** 4313 S Main St presents a phenomenal value-add opportunity within South Los Angeles, near Exposition Park and the Coliseum. While some renovations have already been done to this beautiful property, tremendous value remains to be uncovered in continuing renovations and conversion from 1 to 2 bedrooms for the additional vacant units as well as the addition of 2 ADU units that have already begun the permit process. Built as an 8 unit, the property currently has the benefit of 5 recent vacancies with the potential for more. A 2-bedroom, 2-story townhouse unit has just been completely renovated and is rent-ready. Plans are in place to convert most of the remaining vacancies to 2-bedroom units as well as build an additional two ADU units in the rear carport. Upon lease up at current Section 8 rates, the after-cost CAP rate on this property is pushing 8% with additional upside in turning the remaining occupied units. This offers a buyer looking for long-term stable cash flow an ideal opportunity. The 5 current vacant units will be delivered Rent Ready!

Listing information courtesy of: Tim Steuernol, NAI Capital Commercial Inc. . *Based on information from the Association of REALTORS/Multiple Listing as of 10/24/2024 and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.