816 W 47th Street, Los Angeles, California 90037, Los Angeles, 90037 - 16 bed, 12 bath
ACTIVE$2,100,000
816 W 47th Street, Los Angeles, California 90037
16Beds
12Baths
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 modern 4-unit property offers minimal maintenance requirements and contemporary standards, reducing immediate and long-term operating costs.
Top Cons:
Recent Price Reduction: The property's list price has been reduced from an initial $2.4M to $2.1M, which may suggest initial overpricing or a longer time on market than anticipated.
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 a very recent construction. The images confirm a modern aesthetic throughout, featuring contemporary laminate flooring, recessed lighting, and a kitchen equipped with white cabinetry, light countertops, and stainless steel appliances. Given its newness, all major systems and components are expected to be virtually new and meet current quality standards, requiring minimal maintenance. The overall condition, style, and features align perfectly with the 'Excellent' criteria for a newly built property.
Year Built
2020
Close
-
List price
$2.1M
Original List price
$2.4M
Price/Sqft
$326
HOA
-
Days on market
-
Sold On
-
MLS number
SB25119147
Home ConditionExcellent
Features
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 a very recent construction. The images confirm a modern aesthetic throughout, featuring contemporary laminate flooring, recessed lighting, and a kitchen equipped with white cabinetry, light countertops, and stainless steel appliances. Given its newness, all major systems and components are expected to be virtually new and meet current quality standards, requiring minimal maintenance. The overall condition, style, and features align perfectly with the 'Excellent' criteria for a newly built property.
Pros & Cons
Pros
New Construction & Low Maintenance: Built in 2020, this modern 4-unit property offers minimal maintenance requirements and contemporary standards, reducing immediate and long-term operating costs.
No Rent Control: The property is exempt from rent control, providing investors with greater flexibility in setting and adjusting rental rates to maximize income potential in the Los Angeles market.
Strong Investment Potential & Financial Upside: With a projected 6.67% CAP rate at market rents and approximately 24% rental upside, this asset is well-positioned for significant long-term returns and ideal for investors or 1031 exchange buyers.
Desirable Unit Mix & Versatile Strategy: Comprising four spacious 4-bedroom/3-bath units, the property supports both family-oriented and co-living rental strategies, broadening its appeal to a diverse tenant pool.
Strategic Location & Connectivity: Located in a high-demand pocket of South Los Angeles, minutes from USC and Downtown LA, with excellent access to major transit corridors, the 110 Freeway, and Metro lines.
Cons
Recent Price Reduction: The property's list price has been reduced from an initial $2.4M to $2.1M, which may suggest initial overpricing or a longer time on market than anticipated.
Mixed Local School Performance: While some elementary schools have high ratings, several nearby middle and high schools show lower performance ratings (2-3 stars), which could be a consideration for family-oriented tenants.
Below Market Rents (Requires Active Management): The current in-place CAP rate of 4.94% is lower than the projected 6.67% at market rents, indicating that the property is not currently maximizing its income potential and will require active rent adjustments to achieve higher returns.