920 W 20th Street, Los Angeles, CA 90007

Property Description

A prime FOURPLEX investment opportunity in the heart of University Park, just blocks from USC and USC Village, offering approximately $102,000 in projected annual gross rental income when fully leased at projected market rents. At the current asking price, that equates to a projected GRM of approximately 10.7. Two units are currently vacant, creating immediate upside through lease-up at projected rents or the option to occupy the expansive owner's residence.The property consists of four distinct units, anchored by an expansive 2BD/2BA residence occupying the entire ground floor. Previously owner-occupied and currently vacant, the residence features generous proportions and original period details throughout. Upstairs are three additional units: a vacant studio, a 1BD/1BA currently rented at $1,261/month, and a 2BD/1BA currently rented at $1,434/month. The 1BD/1BA is expected to become vacant in December, creating additional opportunity for a new owner to reposition rents. The two currently occupied units generate $2,695/month in existing rental income.A garage with an attached bonus room and a California basement provide additional utility and flexibility. Set among the architecturally significant homes of University Park, the property combines historic character, existing income and significant rental upside in a location convenient to USC, USC Village, dining, shopping and neighborhood amenities.