856 W 47th St, Los Angeles, CA 90037

Property Overview

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856 W 47th St is a 4-unit multifamily investment located in a high-demand South Los Angeles rental submarket, offering strong day-one cash flow with near-term income growth through lease-up. Built in 1914 and renovated in 2025, the 4,510-square-foot building sits on a 7,778-square-foot lot and features an in-demand unit mix of (4) 3-bedroom / 2-bath units, including two ADUs—providing durable tenant appeal and simplified management. The property is subject to rent control, yet current operations still provide meaningful yield with upside through stabilization and rent optimization.

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Offered at $1,400,000 ($350,000 per unit / $310 per square foot), the asset currently operates at an 8.00% cap rate with a 9.39 GRM, supporting immediate cash flow and a compelling long-term hold strategy in a supply-constrained corridor of South Los Angeles.

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Key Property Details

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• Location: Location: 856 W 47th St, Los Angeles, CA 90037
• ‍Lot Size: 7,778 square feet
• ‍Total Building Area: 4,510 square feet
• ‍Units: 4 Total Units (including two ADUs)
• ‍Unit Mix: (4) 3BR / 2BA
• ‍Zoning: LARD2
• ‍Year Built / Renovated: 1914 / 2025
• ‍Rent Control: Yes
  

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Investment Highlights

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• Strong Day-One Yield: The asset offers an attractive 8.00% in-place cap rate, supporting immediate cash flow from acquisition.
• ‍Immediate Lease-Up Upside: The property includes vacant units, allowing a new owner to lease at or near market rents without delays, tenant buyouts, or heavy repositioning risk.
• ‍Efficient Expense Profile: Operating expenses remain controlled at approximately $7,425 per unit annually (~21% of EGI), supporting strong NOI retention as rents rise.
• ‍Durable 3BR/2BA Unit Mix: Larger floorplans typically drive stable tenant demand, reduced turnover, and long-term rental durability in workforce rental markets.
• ‍Built-In Rent Growth Potential: Current average rents of approximately $3,106/unit remain slightly below projected market rents of $3,150/unit, offering continued upside through stabilization and turnover.

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Neighborhood and Accessibility

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Situated in a commuter-friendly pocket of South Los Angeles, 856 W 47th St benefits from convenient access to major transit corridors and employment hubs throughout Central LA. The neighborhood continues to support consistent rental demand from tenants seeking larger unit layouts at more attainable price points, making the asset well-positioned for long-term occupancy, stable income, and continued appreciation.

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For more information and to schedule a viewing, please contact:

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Taylor Avakian

Founder, The Group CRE

First Vice President, Lyon Stahl