1420 W 39th Street

This is a multifamily investment opportunity at 1420 W 39thSt in the Exposition Park neighborhood of Los Angeles, located just west of Normandie Ave and one mile from theUniversity of Southern California. The property features two structures, a fourplex and a free-standing bungalow at the rear of the property; the unit mix consists of three two-bedrooms and two one-bedrooms plus dens; the property will be delivered with RTI plans to build two one-bedroom ADU's (435 SF each); tenants currently use the back of the property for parking. The property is being offered at $248 PSF with substantial rental upside of over 126%; the ADU's can be built immediately and existing units can be brought to market over time as units turn. Alternatively, the 9,731 SF lot zoned LARD2 presents development potential through AB 2345 that could allow for unlimited density and an expedited entitlement process through Executive Directive 1 if a 100% affordable housing project is pursued (Buyer to verify). Located in a dense, infill location of Los Angeles with an easy commute to USC, Downtown and Crenshaw; close to multiple Metro local lines on Western Ave & Normandie Ave and a half-mile from the Expo/Western MetroRail Station.