7408 Elsie St, Los Angeles, CA 90001

Overview

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Property Type: Apartment house (5+ units)
Year Built: 1926
Total Units: 5

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The property at 7408 Elsie St is a multifamily apartment building in the heart of Los Angeles, built in 1926. This classic structure spans 1,264 square feet on a 4,718-square-foot lot, providing spacious units for tenants. The wood frame construction is durable, yet it also offers potential for modernization. The building includes five units, appealing to investors interested in steady rental income and portfolio growth. Zoned as LCR3*, the property provides options for residential flexibility, allowing potential enhancements that could increase property value and rental returns.

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Neighborhood Overview

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Location: Los Angeles, CA
Proximity: Near essential amenities and transit routes, offering tenants convenient access to various parts of the city

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Situated in a well-established neighborhood, 7408 Elsie St benefits from its strategic location in Los Angeles. The area is attractive for renters who value both urban connectivity and a strong sense of community. Public transportation options are plentiful, with major bus routes nearby, offering tenants easy access to downtown LA, schools, and local employment hubs. Additionally, the property is surrounded by an array of shopping centers, healthcare facilities, and entertainment options, which contribute to a high quality of life for residents.

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South Los Angeles has been experiencing a resurgence, with ongoing investment in infrastructure and development projects that continue to enhance the area’s appeal. Tenants benefit from the neighborhood’s access to parks and recreational areas, ideal for those who enjoy outdoor activities. With local eateries, cultural venues, and community-focused events, South Los Angeles presents a vibrant living experience for tenants.

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Investment Highlights

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• Income Potential: This property is an attractive investment for steady income, given its multi-unit layout. As rental demand in Los Angeles remains high, there is potential for rent adjustments in the future, particularly with targeted unit upgrades that could appeal to new renters.
• Zoning Flexibility: The LCR3* zoning designation provides flexibility for future development or modifications. This versatility makes the property adaptable to changing market demands, allowing investors to explore various residential uses over time.
• Operational Efficiency: The property’s likely separate metering for utilities simplifies management and lowers operational costs. This setup is advantageous for both owners and tenants, enabling tenants to manage their own utility expenses, which can enhance tenant satisfaction and retention.

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Property Features

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The structure reflects traditional architectural characteristics, with sturdy wood construction typical of the era. Despite its age, the building has been well-maintained and serves as a reliable housing option for tenants. However, selective upgrades could further enhance the property’s appeal, making it an ideal candidate for modernization projects that could increase rental income and property value. Potential improvements might include refreshing common areas, updating kitchens and bathrooms, or implementing energy-efficient features.

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For investors seeking a property with both current income potential and growth prospects, 7408 Elsie St represents a compelling opportunity. The combination of its prime location, flexible zoning, and multifamily layout aligns with the needs of investors aiming for long-term stability and asset appreciation in one of Los Angeles’ thriving residential markets.

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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