532 W Vernon AVE new Save Request In-Person Tour Request Virtual Tour
Los Angeles,CA 90037
Key Details
Property Type Apartment
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
MLS Listing ID SR25192789
HOA Y/N No
Year Built 2023
Annual Tax Amount $2,850,000
Lot Size 7,248 Sqft
Property Sub-Type Apartment
Property Description
Newly Built 5-Unit Apartment Building in South Los Angeles – Investor Ready! Immediate value-add opportunity with rents positioned below market, allowing income growth from day one of ownership, raising the Cap rate above 7%.. This stunning newer construction 5-unit multifamily property completed in 2023, offering a rare combination of modern design, premium finishes, and central location. Perfectly positioned in a vibrant South Los Angeles neighborhood, this property sits just west of S. Figueroa Street and south of W. Vernon Avenue, placing residents minutes from Downtown LA, USC, Exposition Park, and major commuter routes. Spread across three beautiful buildings, the property boasts an exceptional unit mix: One (1) spacious 1-bedroom, 1.5-bath ADU with off street parking spot and washer/dryer included; Two (2) large 3-bedroom, 3-bath townhouse-style units; Two (2) expansive 4-bedroom, 4-bath townhouse-style units The four front units span three stories each, while the rear ADU offers a comfortable two-story layout—each with thoughtfully designed open floor plans, abundant natural light, and modern amenities. Inside, you'll find high ceilings, contemporary kitchens with stainless steel appliances, designer cabinetry, and stone countertops, along with beautiful flooring, recessed lighting, and energy-efficient systems. The 3 & 4 Bedroom units each have their own 2-car garage with washer/dryers included. For energy efficiency, each unit also has solar panels with installed meters. Location is key, and this property delivers—just two miles from USC, making it a prime choice for off-campus housing, and less than four miles to Downtown LA for working professionals. Outdoor enthusiasts will love being minutes from Banc of California Stadium, Exposition Park, and Julian C. Dixon Park, while everyday convenience is met with nearby shopping, dining, and retail along Figueroa Street. As a non–rent-controlled and newly constructed asset in a rapidly gentrifying market, this turnkey investment opportunity has strong rental income potential. 4 units have tenants and one unit is currently vacant. Whether catering to students professionals, or families, this property is primed to deliver exceptional long-term value. Don't miss your chance to own a premier multifamily property in one of Los Angeles' fastest-growing neighborhoods!
Location
State CA
County Los Angeles
Area C23 - Metropolitan
Zoning LAR3
Interior
Interior Features Recessed Lighting,All Bedrooms Up,Primary Suite
Heating Central
Cooling Central Air
Flooring Laminate
Fireplaces Type None
Fireplace No
Appliance Gas Cooktop,Gas Oven,Gas Range,Microwave,Refrigerator,Dryer,Washer
Laundry In Garage
Exterior
Parking Features Covered,Driveway,Garage,Uncovered
Garage Spaces 8.0
Garage Description 8.0
Fence Good Condition
Pool None
Community Features Curbs,Street Lights,Sidewalks
Utilities Available Cable Available,Electricity Available,Natural Gas Available,Phone Available,Sewer Available,Water Available
View Y/N Yes
View Neighborhood
Total Parking Spaces 9
Private Pool No
Building
Lot Description Back Yard,Front Yard
Story 2
Entry Level Three Or More
Sewer Public Sewer
Water Public
Level or Stories Three Or More
New Construction No
Others
Senior Community No
Tax ID 5018033019
Security Features Smoke Detector(s)
Acceptable Financing Submit
Green/Energy Cert Solar
Listing Terms Submit
Special Listing Condition Standard
Lease Land No