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 additional income stability through government-supported tenancy. 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, providing durable tenant appeal and simplified management. The property is subject to rent control, offering stable operations within a well-established rental corridor.

Offered at $1,400,000 ($350,000 per unit / $310.42 per square foot), the asset currently operates at approximately a 9.41% cap rate with an 8.25 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: 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 9.41% in-place cap rate, supporting immediate cash flow from acquisition.
• Stable Occupancy with Section 8–Supported Income:
  The property is fully leased with tenants supported by Section 8 housing vouchers, providing reliable rent collections and durable income stability.
• Efficient Expense Profile:
  Operating expenses total approximately $28,875 annually (~$7,219 per unit), representing roughly 18% of EGI, allowing a larger share of rental income to convert into NOI.
• Durable 3BR/2BA Unit Mix:
  All four units feature large 3-bedroom / 2-bath layouts averaging approximately 1,106 SF, a configuration that typically attracts long-term tenants seeking larger living spaces.
• Modest Rent Upside Through Market Alignment:
  Current rents average approximately $3,536 per unit, compared to projected market rents of $3,668 per unit, representing about 4% upside as rents align with market levels over time.

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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 Los Angeles. The surrounding neighborhood supports steady rental demand driven by tenants seeking larger unit layouts at attainable price points, positioning the property for long-term occupancy, reliable 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