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We are pleased to present an eight-unit multifamily investment opportunity at 4223 Degnan Blvd in the Baldwin Village submarket, located just south of Stocker St and half a mile from the Baldwin Hills Crenshaw Mall. Built in 1939, the subject property features a unit mix consisting of two bachelors, two singles, and four one-bedrooms; two of the one-bedroom units will be delivered vacant at the close of escrow; there are six parking garages at the rear of the property. Offered at a low $156,250 per unit and $259 PSF at the asking price, the majority of the units are leased at below-market rents, offering an investor the opportunity to achieve market rents over time as units turn and capture over 42% rental upside. First time the property has been available for sale since 1965; the asset's systems, exterior, and interiors have been well-maintained throughout the years; the property has a gated entrance in the front and small grass common area at the rear of the property between the building and parking garages. 4223 Degnan Blvd is extremely walkable, located just down the street from Leimert Park Plaza and an abundance of retail on Crenshaw Blvd; the property has a walk score of 92 with access to numerous Metro Local Lines as well as the Martin Luther King Jr stop along the K Line that serves the communities of West Adams, Jefferson Park, Baldwin Hills, Leimert Park, Hyde Park, Inglewood, and Westchester. Ideal rental submarket evidenced by the plethora of new developments in the area such as Leimert Park Village at 3450 43rd St, 4242 Crenshaw Blvd, and 5144 Crenshaw Blvd, all projects currently under construction. Central location with an easy commute throughout Los Angeles to destinations such as LAX, Inglewood, Downtown Los Angeles, Culver City, and Mid-City.
Property Type(s):
Residential Income
| Last Updated | 1/29/2025 | Year Built | 1939 |
|---|---|---|---|
| Community | Park Hills Heights | County | Los Angeles |
Additional Details
| AIR | None |
|---|---|
| AREA | Park Hills Heights |
| HEAT | None |
| LOT | 5501 sq ft |
| STORIES | 2 |
| ZONING | LAR1 |
Location
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Listed with Marcus & Millichap
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