1128 Masselin Avenue, Los Angeles, CA 90019

$2,995,000 Approx. USD 12 beds, 12 baths
9,206 sqft

New Listing

Save My Notes

MORE INFO

Brochure

Photo of Jimmy Harmantzis

Marketed By Jimmy Harmantzis REALTOR® - Broker Associate 949-212-2023 m
949-212-2023 o
Lic#: 01234982
NRDS ID: 641526390
JimmyHarmantzis@bhhscal.com Mission Viejo Office
23120 Alicia Parkway, Suite 100
Mission Viejo, CA 92692
Phone: 949-768-1000
Fax: 949-587-0915

Mortgage Calculator

GET PRE-APPROVED

Interested in This Property? Request Virtual Showing Your message will be sent to Jimmy.
By submitting your information, you consent to be contacted by email, SMS message, and/or phone call. You may opt out at any time per our Privacy Policy.

Agent Remarks

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.

Listing Details

Property type: (Multi-Family)

Status: Active

MLS# 25529795

Price: $2,995,000

Beds: 12

Baths: 12

Built in 1948

9,206 sqft

2 stories

0.29 acres

Lot size: 0.2869