
Los Angeles, California 90001
This 4-unit multifamily portfolio presents a High-Potential Investment Opportunity with a List Price of $650,000—positioned slightly above the $637,070 Fair Market Value. While the property requires capital improvements, its Fair Condition Rating and significant rental upside—with the potential to increase monthly income by over $1,000 per unit—make this a compelling Value-Add Asset. Strategically located near the Florence Metro Station and major freeways, this property is an ideal acquisition for Buy-and-Hold Investors or Value-Add Developers seeking to stabilize cash flow in a high-demand rental market.
Property is extensive renovation needed.
Built in 1947 (79 years old) with no evidence of recent renovations. Exterior photos show deferred maintenance including peeling stucco and patched roofing. The presence of window AC units indicates a lack of modern central HVAC, and the electrical meters appear dated. The listing description emphasizes a 'value-add' opportunity to increase rents by over $1,000 per unit, strongly implying the interiors require significant rehabilitation to reach market standards.
With current rents averaging only $789 per unit, there is a substantial opportunity to increase revenue by over $1,000 per unit to meet prevailing market rates.
Upon stabilization, the property offers an impressive projected 9.69% CAP Rate and 7.47 GRM, representing a top-tier investment return for the Los Angeles area.
The property is ideally located near the Florence Metro Station and major freeways (I-110, I-105, I-710), providing tenants with easy access to major employment hubs.
The existing annual rental income is relatively low, which may present initial cash flow challenges or financing hurdles until the units are stabilized.
Built in 1947, the two separate structures may require significant capital expenditures for modernizing systems and interiors to achieve the projected market rents.
We are proud to present 5917 Converse Avenue and 1905 E 78th Street — a two-property multifamily portfolio consisting of two separate 4-unit properties located in the Florence-Graham neighborhood of Unincorporated Los Angeles. The properties can be purchase together or individually. 5917 Converse Avenue offers approximately 2,550 SF of rentable living area across two separate structures situated on a generous 8,457 SF lot. The property consists of four 1-bedroom/1-bathroom units, averaging approximately 638 SF per unit. The property is currently generating just over $38,000 in annual rental income, equivalent to approximately $789 per unit per month. An investor familiar with prevailing market rents for comparable units in the surrounding area will recognize a significant opportunity to increase revenue, with the potential to capture more than $1,000 of additional monthly rental income per unit. Upon stabilization, the property offers the potential to achieve an approximately 9.69% CAP Rate and 7.47 GRM. The Florence-Graham neighborhood is a strongly renter-oriented market, with more than 65% of occupied housing units being renter-occupied. Strategically positioned near the I-110, I-105, and I-710 freeways, the portfolio offers convenient access to major employment centers throughout Los Angeles County. Downtown Los Angeles is approximately 6 miles north, providing access to one of the region's largest employment hubs. Tenants also benefit from proximity to the Florence Metro Station, providing rail connectivity to Downtown Los Angeles and Downtown Long Beach. Numerous grocery stores, big-box retailers, neighborhood shops, restaurants, schools, parks, and other daily-needs amenities are located throughout the surrounding area.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 0.0 | 4.6 |
| Baths | 0.0 | 3.0 |
| Square foot | 2,550 | 2,187.451 |
| Lot Size | 8,459 | 5,841.385 |
| Price | $650.0K | $841.5K |
| Price per sq ft | $255 | $385 |
| Built year | 1947 | 1928 |
| HOA | $0 | $0 |
| Days on market | 6 | 85 |
Sep 3, 2026
$650,000
Initial Listing