816 W 47th Street, Los Angeles, California 90037, Los Angeles, 90037 - bed, bath
ACTIVE$2,100,000
816 W 47th Street, Los Angeles, California 90037
0Bed
0Bath
6,446Sqft
8,534Lot
Price Vs. Estimate
Estimation data not available
Key pros and cons
Top Pros:
New Construction & Low Maintenance: Built in 2020, this property offers modern construction standards, implying minimal immediate maintenance requirements and appealing to tenants seeking contemporary living spaces.
Top Cons:
Location Perception: Despite being a 'high-demand pocket,' the South Los Angeles location may still carry a perception of higher crime rates or less desirable neighborhood characteristics for some prospective tenants or buyers.
Compared to the nearby listings
Price:$2.10M vs avg $965.0K (+$1,135,000)96%
Size:6,446 sqft vs avg 2,544 sqft96%
Price/sqft:$326 vs avg $35148%
More Insights
Built in 2020 (5 years old).
Condition: This property was built in 2020, making it only 4 years old, which falls directly into the 'Excellent' category for properties built within 10 years. The kitchen features modern white cabinetry, contemporary gray countertops, and wood-look flooring, all appearing new and well-maintained. Recessed lighting is present, and the overall aesthetic is fresh and current. The description confirms 'modern construction' and 'minimal maintenance requirements,' aligning with the criteria for an excellent condition property with virtually new components and no deferred maintenance.
Year Built
2020
Close
-
List price
$2.1M
Original List price
$2.4M
Price/Sqft
$326
HOA
-
Days on market
-
Sold On
-
MLS number
SB25105253
Home ConditionExcellent
Features
Good View:
View-
About this home
816 W 47th Street presents a rare opportunity to acquire a 2020 construction 4-unit property in a high-demand pocket of South Los Angeles, just minutes from USC and Downtown LA. With no rent control, modern construction, and minimal maintenance requirements, this asset is well-positioned for both seasoned investors and 1031 exchange buyers seeking long-term stability with built-in upside. The property consists of two separate buildings and offers an ideal unit mix of four 4-bedroom/3-bath units, totaling 6,446 rentable square feet on an 8,534 SF lot. Current operations yield a 4.94% in-place CAP rate and 13.57 GRM, with approximately 24% rental upside. At market rents, the asset is projected to deliver a 6.67% CAP and a 10.94 GRM, making it a strong performer in today’s market. Additional features include eight outdoor parking spaces—providing ample tenant convenience—and a layout that supports both family-oriented and co-living rental strategies. Ideally located near major transit corridors, freeways, and employment hubs, 816 W 47th Street offers direct access to the 110 Freeway, Metro lines, and the broader Downtown LA area. With excellent unit sizes, strong in-place income, and non-rent-controlled flexibility, this property stands out as a premier investment in a rapidly evolving urban corridor.
Nearby schools
2/10
Marguerite Poindexter Lamotte Elementary
Public,•K-5•0.1mi
/10
Dr. James Edward Jones Primary Center
Public,•K-2•0.2mi
3/10
Fifty-Second Street Elementary School
Public,•K-5•0.3mi
5/10
West Vernon Avenue Elementary School
Public,•K-5•0.5mi
5/10
Menlo Avenue Elementary School
Public,•K-5•0.6mi
3/10
Normandie Avenue Elementary School
Public,•K-5•0.6mi
2/10
Main Street Elementary School
Public,•K-5•0.9mi
2/10
Western Avenue Elementary School
Public,•K-5•1.2mi
3/10
Trinity Street Elementary School
Public,•K-5•1.3mi
2/10
Martin Luther King Jr. Elementary School
Public,•K-5•1.4mi
/10
Maple Primary Center
Public,•K-1•1.4mi
3/10
Angeles Mesa Elementary School
Public,•K-5•2.0mi
2/10
Forty-Second Street Elementary School
Public,•K-5•2.0mi
2/10
Tom Bradley Global Awareness Magnet School
Public,•K-5•2.2mi
3/10
Sixth Avenue Elementary School
Public,•K-5•2.7mi
2/10
John Muir Middle School
Public,•6-8•1.0mi
2/10
Barack Obama Global Preparation Academy
Public,•6-8•1.3mi
3/10
William Jefferson Clinton Middle School
Public,•6-8•1.4mi
3/10
Los Angeles Academy Middle
Public,•6-8•1.5mi
1/10
Horace Mann Junior High School
Public,•6-8•2.1mi
2/10
Audubon Middle School
Public,•6-8•2.5mi
3/10
Manual Arts Senior High School
Public,•9-12•0.6mi
2/10
Augustus F. Hawkins High A Critical Design And Gaming
Public,•9-12•1.0mi
3/10
Nava College Preparatory Academy
Public,•9-12•2.2mi
1/10
Crenshaw Science, Technology, Engineering, Math And Medicine Magnet
Public,•9-12•2.4mi
5/10
Santee Education Complex
Public,•9-12•2.5mi
Price History
Date
Event
Price
06/18/21
Sold
$2,150,000
09/23/19
Sold
$700,000
05/10/18
Sold
$497,000
Condition Rating
Excellent
This property was built in 2020, making it only 4 years old, which falls directly into the 'Excellent' category for properties built within 10 years. The kitchen features modern white cabinetry, contemporary gray countertops, and wood-look flooring, all appearing new and well-maintained. Recessed lighting is present, and the overall aesthetic is fresh and current. The description confirms 'modern construction' and 'minimal maintenance requirements,' aligning with the criteria for an excellent condition property with virtually new components and no deferred maintenance.
Pros & Cons
Pros
New Construction & Low Maintenance: Built in 2020, this property offers modern construction standards, implying minimal immediate maintenance requirements and appealing to tenants seeking contemporary living spaces.
No Rent Control: As a new construction, the property is exempt from rent control, providing investors with greater flexibility in setting and adjusting rental rates to maximize income and adapt to market conditions.
Strong Investment Metrics & Upside: The property boasts a 4.94% in-place CAP rate with a projected 6.67% CAP rate at market rents, indicating robust financial performance and significant rental upside potential for investors.
Ideal Unit Mix & Versatile Layout: Comprising four 4-bedroom/3-bath units, the property offers an excellent unit mix suitable for both family-oriented and co-living rental strategies, broadening its tenant appeal.
Prime Location & Accessibility: Situated in a high-demand pocket of South Los Angeles, minutes from USC and Downtown LA, with direct access to major transit corridors and employment hubs, ensuring strong tenant demand.
Cons
Location Perception: Despite being a 'high-demand pocket,' the South Los Angeles location may still carry a perception of higher crime rates or less desirable neighborhood characteristics for some prospective tenants or buyers.
Mixed School Ratings: Several nearby public schools have low ratings (1-3 out of 5), which could be a drawback for family-oriented tenants or buyers prioritizing access to highly-rated educational institutions.
Lack of Detailed Unit Amenities: While 'modern construction' is noted, the description lacks specific details on in-unit amenities (e.g., in-unit laundry, private outdoor spaces, premium finishes) that could further differentiate the property and command higher rents.