613 E 83rd St, Los Angeles, CA 90001

Overview

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Property Type: Quadruplex
Year Built: 1927
Total Units: 4

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The property at 613 E 83rd St in Los Angeles is a charming quadruplex built in 1927, covering 1,920 square feet on a lot of approximately 5,741 square feet. This multifamily structure provides an opportunity for steady rental income with four residential units, each independently accessible. The building features durable wood frame construction typical of its time, maintaining the character of its era while offering potential for modern upgrades. Zoned LAR2, the property is adaptable for residential use, allowing flexibility in tenant configuration. This structure’s layout and zoning appeal to investors seeking a mix of stability and opportunity for property enhancement.

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Neighborhood Overview

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Location: South Los Angeles
Proximity: Close to local amenities and public transportation, providing tenants with access to both the immediate community and nearby urban centers

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Located in a residential neighborhood in South Los Angeles, the property offers tenants a balanced living experience that combines access to urban conveniences with a quieter residential setting. The area is known for its strong sense of community and its accessibility to major transit routes, which provide easy connections to Downtown Los Angeles and other key city areas. This proximity appeals to a range of tenants, including working professionals, students, and families, due to the nearby schools, retail centers, and essential services such as grocery stores and healthcare facilities.

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The South LA region continues to attract new residents and businesses, creating an environment of economic growth and development. The neighborhood offers various parks and recreational spaces, enhancing the appeal for tenants who prioritize access to green areas and community activities. Additionally, South LA has seen an increase in infrastructure improvements, contributing to the area’s revitalization and increasing its attractiveness for real estate investments.

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Investment Highlights

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• Income Potential: This property is ideal for generating rental income from four units, with the potential for rent adjustments over time. Its quadruplex setup allows for diversified tenant occupancy, which can improve rental stability. The property’s layout accommodates a range of tenant needs, attracting individuals, small families, and professionals seeking affordable housing with proximity to LA’s core.
• Zoning Flexibility: The LAR2 zoning provides opportunities for residential modifications, offering adaptability to future property upgrades or reconfiguration. This flexibility is advantageous for investors who seek to expand their property’s potential and ensure long-term relevance in the market.
• Cost-Efficient Operations: With separate metering likely available, the property minimizes operational expenses for owners, allowing tenants to manage their own utilities. This arrangement not only simplifies management but also appeals to tenants who prefer to control their utility usage, improving overall tenant satisfaction and retention.

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Property Features

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Constructed in 1927, this property combines historical architecture with functionality. The wood frame construction offers durability, and while the building is well-maintained, targeted improvements could enhance its appeal to potential tenants. Upgrades could include updating interiors with modern fixtures, enhancing common areas, or incorporating energy-efficient features to increase the property’s value and marketability. These updates may also justify rent increases, contributing to improved cash flow.

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For investors seeking a property with current income potential and opportunities for future growth, 613 E 83rd St represents a solid choice. Its desirable location within a developing area of South Los Angeles, combined with the flexibility provided by LAR2 zoning, positions the property as a versatile investment in LA’s competitive multifamily housing market. The area’s economic development and increasing demand for housing enhance the property’s long-term investment potential, making it an ideal addition to an investor’s portfolio.

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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