239 W 113th, Los Angeles, California 90061, Los Angeles, 90061 - 0 bed, 0 bath
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Los Angeles, California 90061
Analysis of 239 W 113th, Los Angeles, California 90061 is currently available with a list price of $985,000. The property maintains a Fair Condition Rating (50/100), suggesting the property is in acceptable condition with potential for value enhancement through selective updates and improvements. Located in a high-demand neighborhood within the Los Angeles Unified School District, this asset is categorized as a low-risk, high-reward acquisition suitable for both Buy-and-Hold Investors and Owner-Occupants willing to undertake light renovation work.
Property is moderate renovation needed.
Built in 1924, this multi-unit property is described as a functional, cash-flowing asset, but it suffers from century-old infrastructure. While the exterior and parking areas appear maintained in aerial photos, the age of the property and the lack of interior images suggest that kitchens, bathrooms, and major systems are likely dated and show signs of wear consistent with a 'fair' condition rating. It is habitable and operational but requires ongoing maintenance and eventual updates to reach modern standards.
The property offers an impressive 6.56% current cap rate and an 8.61 GRM at the asking price, providing immediate profitability and stable income for investors.
Units are separately metered for gas and electricity, which minimizes the owner's utility expenses and simplifies the management of operational costs.
There is a clear path to value appreciation with a current rent gap of approximately $336 per unit compared to market rates, achievable through turnover rather than costly renovations.
Originally built in 1924, the property may require higher maintenance reserves and potential capital improvements to address aging systems typical of 100-year-old structures.
Realizing the full market rent potential is execution-based and relies on tenant turnover, which may result in a slower timeline for maximizing the asset's total return.
239 W 113th Street is a six-unit operator deal with day-one cash flow and visible rent upside. At the asking price of $985,000, the property is offered at $164,167 per unit and underwrites to a 6.56% current cap rate and 8.61 current GRM based on the offering financials. The deal works because the in-place income is there on day one. Scheduled gross income is $114,384, and the asset is separately metered for gas and electricity, which helps contain utility exposure. The upside is real, but it is execution-based. Current average rent is $1,589 per unit versus underwritten market rent of $1,925, with one unit at $1,000 creating a large portion of the rent gap. This is not a heavy repositioning deal. It is a cash-flowing six-unit with selective rent reset potential over time. For South LA small-balance buyers, the deal offers day-one income, separate utility metering, excess parking, and rent upside tied to turnover rather than heavy repositioning.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 0.0 | 0.0 | 50% |
| Baths | 0.0 | 0.0 | 50% |
| Square foot | 2,376 | 2,964 | 50% |
| Lot Size | 12,423 | 9,821.5 | 50% |
| Price | $985.0K | $795.0K | 50% |
| Price per sq ft | $415 | $292 | 50% |
| Built year | 1924 | 1941 | 50% |
| HOA | $0 | $0 | 50% |
| Days on market | 9 | 110 | 50% |
Apr 13, 2026
$985,000
Initial Listing
Feb 24, 2022
$953,000
Public Record
Jan 12, 2006
$550,000
Public Record
Jun 17, 2005
$389,000
Public Record
Dec 10, 2001
$170,000
Public Record