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… Read More 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. Read Less
Property listed by Rodeo Realty - Pacific Palisades, James Respondek 310-566-4400
Listing Snapshot
Days Online
1
Last Updated
Property Type
Other
Beds
12
Square Ft.
9,206
Lot Size
0.29 Acres
Year Built
1948
MLS Number
25529795
Additional Details
Building
Built in 1948, Building area total: 9,206, Levels: Two, Living area: 9206, 2 stories, 2 buildings
Community
Gated
Expenses
Insurance expense: $31,600, Maintenance expense: $30,000, New taxes expense: $7,000, Trash expense: $4,761, Water sewer expense: $7,399
Floors
Wood
Garage
9 spaces
Income
Gross income: $248,490, Net operating income: $161,345
Laundry
CommonArea
Lot
0.2869 acres, 12,497 square feet, Size: 12,497
Parking
9 totals parking
Property
Zoning: LAR3
Security Features
GatedCommunity
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Based on information from California Regional Multiple Listing Service, Inc. as of and/or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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