3729 Paloma Street

Description

We are pleased to present the opportunity to acquire 3729 Paloma Street, a 4-unit multifamily property located in the Historic South-Central neighborhood of South Los Angeles. Built in 1914, the building sits on a 4,187 sqft lot with 1,843 sqft of rentable space and consists of (2) 1Bed/1Bath and (2) 2Bed/1Bath units. The property boasts an average rent of $1,165/unit and roughly 76% in rental upside to be captured in the future. All units are separately metered for gas and electricity and tenants' benefit from a gated entrance and (4) surface parking spaces. Both of the 1 Bedroom units include brand new wall heaters, and the property recently passed its SCEP inspection. Buyers are encouraged to verify accuracy of building records and data. Located north of MLK Jr. Blvd and east of Avalon Blvd, the subject property is a short distance to multiple public transportation stops at the corner of E MLK Jr. Blvd and McKinley Ave. Nearby destination include Los Angeles Trade Technical College, University Park, University of Southern California, Exposition Park, Natural History Museum, and California Science Center. For commuters, the 10 and 110 Freeways are minutes away, providing access throughout Greater Los Angeles.