Homes for sale - 1128 Masselin AVE, Los Angeles, CA 90019

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Kelly Salonen

kellysalonenrealtor@gmail.com +1(209) 769-6273

$ 2,995,000

Est. payment | -/mo

12 Beds

12 Baths

9,206 SqFt

Save

$ 2,995,000

Est. payment | -/mo

Save

12 Beds

12 Baths

9,206 SqFt

Key Details

Property Type Multi-Family

Listing Status Active

Purchase Type For Sale

Square Footage 9,206 sqft

Price per Sqft $325

MLS Listing ID 25529795

Bedrooms 12

HOA Y/N No

Year Built 1948

Lot Size 0.287 Acres

Lot Dimensions Assessor

Property Description

Investor gold in Miracle Mile: 1128 Masselin Ave is a pride-of-ownership 12-unit (all 1-bed/1-bath) on an oversized 12,493 sqft LAR3 corner lot that's been family-held and meticulously maintained for 30 years. Three separate entrances and stairwells serve four units each (condo/TIC exit potential), beautiful hardwood floors, updated dual-pane windows, a lush courtyard, on-site laundry and nine private garages (prime ADU/play) keep tenants happy while delivering scheduled gross rent of $286,860/yr, a 10.44 GRM and 6.67 % cap at full occupancy with more upside as legacy rents burn off ($5.39 Actual Cap Rate FY2024). Major systems are in great shape, OPEX is lean (~$87K/yr), and zoning + lot depth invite densification or future redevelopment. Irreplaceable Mid-Wilshire location steps to LACMA, The Grove and Museum Row, and two new Purple-Line Metro stations (.9 & 1.1mi) land next year, super-charging demand and appreciation. At $249K/door this asset checks every box: cash flow, value-add levers and transit-oriented growth in one of LA's most sought-after rental corridors.

Location

State CA

County Los Angeles

Area C19 - Beverly Center-Miracle Mile

Zoning LAR3

Interior

Flooring Wood

Fireplace No

Laundry Common Area

Exterior

Garage Spaces 9.0

Garage Description 9.0

Community Features Gated

Total Parking Spaces 9

Building

Story 2

Entry Level Two

Level or Stories Two

New Construction No

Others

Senior Community No

Tax ID 5085005010

Security Features Gated Community

Special Listing Condition Standard

Listed by James Respondek • Rodeo Realty - Pacific Palisades

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Kelly Salonen

REALTOR® | Lic# 02063555

kellysalonenrealtor@gmail.com

+1(209) 769-6273

5255 Highway 49 North Suite B, Mariposas, CA, 95338, USA

1128 Masselin AVE Los Angeles, CA 90019

Kelly Salonen

Key Details

Location

Interior

Exterior

Building

Others

1128 Masselin AVE