1128 Masselin Ave Active Save Request In-Person Tour Request Virtual Tour
Los Angeles,CA 90019
Key Details
Property Type Multi-Family
Sub Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 9,206 sqft
Price per Sqft $325
MLS Listing ID 25529795
Style Low Rise
Bedrooms 12
Year Built 1948
Lot Size 0.287 Acres
Acres 0.2869
Property Sub-Type Multi-Family
Property Description
Investor gold in Miracle Mile: 1128 Masselin Ave is a pride-of-ownership 12-unit (all 1-bed/1-bath) on an oversized 12,493 sqft LAR3 corner lot that's been family-held and meticulously maintained for 30 years. Three separate entrances and stairwells serve four units each (condo/TIC exit potential), beautiful hardwood floors, updated dual-pane windows, a lush courtyard, on-site laundry and nine private garages (prime ADU/play) keep tenants happy while delivering scheduled gross rent of $286,860/yr, a 10.44 GRM and 6.67 % cap at full occupancy with more upside as legacy rents burn off ($5.39 Actual Cap Rate FY2024). Major systems are in great shape, OPEX is lean (~$87K/yr), and zoning + lot depth invite densification or future redevelopment. Irreplaceable Mid-Wilshire location steps to LACMA, The Grove and Museum Row, and two new Purple-Line Metro stations (.9 & 1.1mi) land next year, super-charging demand and appreciation. At $249K/door this asset checks every box: cash flow, value-add levers and transit-oriented growth in one of LA's most sought-after rental corridors.
Location
State CA
County Los Angeles
Area Beverly Center-Miracle Mile
Zoning LAR3
Rooms
Other Rooms Accessory Bldgs, Other
Interior
Heating Floor
Cooling Window Unit(s)
Flooring Wood
Equipment Other
Laundry Community
Exterior
Parking Features Garage - 4+ Car
Garage Spaces 9.0
Building
Story 2
Architectural Style Low Rise
Level or Stories Two
Others
Special Listing Condition Standard