879 E 40th Place, Los Angeles, California 90011, Los Angeles, 90011 - 11 bed, 5 bath
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Los Angeles, California 90011
This Modern Quadplex Asset is a Strong Value Opportunity with a List Price of $1,600,000—positioned well below the $1,708,254 Fair Market Value by 6%. This valuation gap provides $108,254 in Instant Equity. Unlike surrounding vintage stock, this 2006 rebuild maintains a Good Condition Rating and features a rare 9-space private parking ratio and City Lights views. Located in a TOC Tier 1 zone with RD1.5-1 Zoning, the property offers massive upside via ADU development or high-density redevelopment. It is a premier acquisition for Buy-and-Hold Investors or Value-Add Developers.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 879 E 40th Place Subject | $1,600,000* List Price | 11 | 5 | 4,334 | $394 | - |
A 759 E 25th Active | $1,850,000 List Price | 0 | 0 | 4,089 | $452 | 0.8 mi |
* Subject property listed price vs sold prices of comps.
Property is move-in ready.
The property was fully rebuilt in 2006, placing it within the 10-20 year age bracket for a 'Good' rating. It features recent interior updates including shaker-style kitchen cabinets, newer laminate flooring, recessed lighting, and modernized bathroom vanities and showers. The units appear move-in ready with well-maintained systems and modern fixtures, requiring no immediate major renovations.
Unlike the surrounding vintage housing stock, this property was fully rebuilt in 2006 and features recent interior updates, offering superior structural integrity and significantly lower immediate capital expenditure requirements.
The property includes 9 private parking spaces (3 covered, 6 uncovered), a rare and highly valuable amenity in this high-density area that directly improves tenant retention and justifies premium rental rates.
Situated in a TOC Tier 1 zone with RD1.5-1 zoning, the asset provides massive potential for density increases, including the possibility of adding 2-4 ADUs or redeveloping into an 8-12 unit complex.
Bedroom count discrepancy between mls listing and other public or private record. mls listing bedroom count = 11, other record bedroom count = 13.
The current gross rental income of $7,700 per month represents a relatively low yield relative to the $1.6M asking price, necessitating strategic rent adjustments or development to realize a competitive return on investment.
Located in a high-density urban corridor, the property may require more intensive management and oversight to navigate the complexities of the local rental market and maintain the asset's condition.
Exceptional Investment Opportunity To Acquire A Large Income-Producing 4-Unit Property In The High-Demand South Los Angeles / Downtown LA Rental Market. Well-Maintained Quadplex Offers 11 Bedrooms, 5 Bathrooms And Approximately 4,700 Square Feet Of Total Living Space On A 6,300± Square Foot Lot in LARD1.5-1 Zoning, Making It One Of The Larger Multifamily Assets In The Immediate Area. Unit1: 4Bed/2Bath Unit2: 3Bed/1Bath Unit3: 2Bed/1Bath Unit4: 2 Bed/1Bath. Additionally, With Rare Amenities Of 9 Total Private Parking Spaces (3 Covered Car Port Parking + 6 Private Uncovered – This Improves Tenant Retention And Value As Parking Is Sparse In The Area. Individually Separately Metered For Gas And Electricity. The Property Was Fully Rebuilt In 2006 And Has Received Recent Minor Updates, Providing Investors With The Benefit Of Modernized Construction Relative To Surrounding Vintage Housing Stock, Improved Structural Integrity, And Reduced Capital Expenditure Requirements. Interior Features: Shaker Kitchen Cabinets, Newer Paint, Newer Flooring, Newer Windows, Newer Sinks, Newer Bathroom Vanities, Newer Showers, Recessed Lighting, And Modern Fixtures. Ground Floor Laundry Area In Ground Floor Unit #879 With Access To Exterior (Could Be Transformed Into Shared Laundry With Coin-op Laundry, Adding Additional Income). The Property Is Fully Rented, Currently Generating Approximately $7,700 Per Month In Gross Rental Income, Offering Stable Cash Flow From Day One. With The Strong Demand For Affordable Housing In The 90011 Corridor, The Asset Presents A Compelling Opportunity For Continued Rental Growth Through Strategic Rent Adjustments, Improved Management, Or Unit Upgrades. Actualize The Development And Density Potential Upside With Improving Rental Income By ADU Development (2-4 ADU Possible), Carport Conversions, Redevelopment Utilizing LA And State Housing Incentives For Higher Density Housing + Transportation Area Incentives. RD1.5-1 Zoning, Transit Oriented Communities (TOC Tier 1), ZI-2374 State Enterprise Zone LA, Transit Oriented Incentive Area 1 (TOIA). Well Positioned – Very Close To USC, Future Olympics Location, Major Transportation Corridors, Retail And Employment Hubs. Ideal For Investors, 1031 Exchange Buyers, Value-Add Builders, Developers Seeking Rental Market With Prime Unit Mix In TOC Zone (8-12 Units Possible) With Rental Pro-Forma Of Approximately $27,600 Per Month After Redevelopment. Your Investment Opportunity Is Here, Call Listing Agent NOW!
No exterior & parking available.
Grades K-5 • 0.1 mi
Grades K-5 • 0.2 mi
Grades K-5 • 0.3 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 11.0 | 0.0 | 97% |
| Baths | 5.0 | 0.0 | 97% |
| Square foot | 4,334 | 2,028 | 94% |
| Lot Size | 6,309 | 5,326 | 76% |
| Price | $1.60M | $750.0K | 94% |
| Price per sq ft | $369 | $373 | 48% |
| Built year | 2006 | 1912 | 85% |
| HOA | $0 | $0 | 50% |
| Days on market | 37 | 209 | 6% |
Mar 16, 2026
$1,600,000
Initial Listing
Sep 7, 1990
$190,000
Public Record