1061 W 57th St, Los Angeles, CA 90037

$1,900,000
CLOSED
ACTIVE
$1,900,000
CLOSED
ACTIVE

Property Highlights

Year Built:
1929
Units:
12
Price / Unit:
$158,333
Price / SqFt:
$271.54
Property Type:
Multifamily
Building SqFt:
6,997
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Property Details

Property Overview

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1061 W 57th St is a 12-unit multifamily asset located in the South Los Angeles submarket, north of Slauson Avenue between Normandie and Vermont Avenues. Built in 1929, the property features a unit mix of (1) 2-bedroom/1-bath, (8) 1-bedroom/1-bath, and (3) studio units, totaling 6,997 rentable square feet across a 5,170 SF lot. Zoned LARD2 and located in a Transit-Oriented Communities (TOC) Tier 3 area, the building is secured with front and rear gates and is subject to the Los Angeles Rent Stabilization Ordinance (RSO). The property is separately metered for utilities, and occupancy currently stands at 92%. This offering presents an excellent opportunity for investors to capitalize on South LA’s growing rental demand while benefiting from a stable asset with rental upside.

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Key Property Details

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  • Location: 1061 W 57th St, Los Angeles, CA 90011
  • Lot Size: 5,170 SF
  • Zoning: LARD2
  • Existing Improvements: 12 Units | 6,997 SF | Built 1929 | LA RSO
  • Parking: Gated front and rear entry (surface parking)
  • Transit: Transit-Oriented Communities (TOC) Tier 3
  • Utilities: Separately metered‍
  • Unit Mix:‍
    • (1) 2 Bed / 1 Bath
    • (8) 1 Bed / 1 Bath
    • (3) Studio / 1 Bath

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Investment Highlights

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  • Transit-Oriented Location: Situated within a TOC Tier 3 zone, enhancing development and density potential.
  • Stabilized Occupancy: 92% occupied with consistent tenant demand.
  • Desirable Unit Mix: A combination of two-bedroom, one-bedroom, and studio units suitable for diverse tenant needs.
  • Separable Utilities: Reduces owner expenses, improving net operating income.
  • Gated Property: Secured front and rear entrances for tenant security and appeal.
  • Rent Control Stability: Subject to LA’s RSO, ensuring gradual rent growth and tenant retention.

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    Neighborhood and Accessibility

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    Located in the South Los Angeles corridor, 1061 W 57th St benefits from proximity to major employment hubs, transit corridors, and key revitalization projects. Residents enjoy easy access to Downtown Los Angeles, USC, and Exposition Park. Major infrastructure projects like the SoFi Stadium, Intuit Dome, and Hollywood Park development are further enhancing the area's economic vibrancy and long-term rental demand.

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    Market Trends and Financial Potential

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  • Current Occupancy: 92% occupied
  • Vacancy Assumption: 3% of gross rental income (underwriting standard)
  • Pro Forma Rents: Based on submarket rent analysis (pro forma market rents available)
  • Property Tax Rate: 1.25%

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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