359 E 56th Street, Los Angeles, CA 90011
- $860,000
- 6
- BD
- 6
- BA
- 2,976
- SqFt
- Sold Price
- $860,000
- List Price
- $875,000
- Closing Date
- May 18, 2026
- Status
- CLOSED
- MLS#
- 26641147
- Year Built
- 1923
- Bedrooms
- 6
- Bathrooms
- 6
- Living Sq. Ft
- 2,976
- Lot Size
- 10,591
- Acres
- 0.24
- Days on Market
- 37
- Property Type
- Multifamily
- Stories
- One Level
Property Description
The subject property is a six-unit apartment complex located in South Los Angeles. The units were constructed in 1923 and contain 2,978 square feet. The apartments are situated on a large, 10,588 square foot lot which is zoned LAR2. The buildings consist of all one-bedroom units averaging just under 500 square feet each. The complex gives the feel of individual houses which make it very attractive to prospective tenants. Currently, the apartments are generating $8,112 per month and over $97,000 annually. Also, there is plenty of upside in the rents. At a GRM of 8.98 and $145,000 per unit. This is a great investment opportunity. In 2025, a Capital Improvement of $32,820 was invested in the roof. (That was not included in the regular expenses.)
Additional Information
- Heat
- Wall Furnace
- Cooling Description
- None
- Attached Structure
- Detached
- Number Of Units Total
- 6
Listing courtesy of Listing Agent: Jerome McAlpin (jerome@mcalpinco.com) from Listing Office: McAlpin & Company.
Listing sold by Jerome McAlpin from McAlpin & Company
Mortgage Calculator
Based on information from California Regional Multiple Listing Service, Inc. as of . This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.