Properties

Los Angeles, CA 90011 879 E 40th Place

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Presented By: Justin Yee with eXp Realty of Southern California, Inc; 949-533-1572
  • MLS# OC26053122
  • 03/13/2026
  • Get pre-approved
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  • Baths • 1
  • SQFT • 4,700

Home Details

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 6,300ยฑ 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 โ€“ 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 โ€“ 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!
Presented By: Justin Yee with eXp Realty of Southern California, Inc; 949-533-1572

Interior Features for 879 E 40th Place

Other Interior Features

Air Conditioning Y/NYes
Common WallsNo Common Walls
Fireplace FeaturesNone
Fireplace Y/NNo
FlooringTile, Vinyl, Wood
Heating Y/NYes
Interior AmenitiesBlock Walls, Ceiling Fan(s), Granite Counters, Multiple Staircases, Quartz Counters, Recessed Lighting, Storage, Bedroom on Main Level, Galley Kitchen, Main Level Primary
Laundry FeaturesWasher Hookup, Electric Dryer Hookup, Inside, Laundry Room
Total Stories3
Window FeaturesBlinds, Screens

Other Rooms

Entry Level1

General for 879 E 40th Place

AccessibilitySafe Emergency Egress from Home, No Stairs
Additional Parcels Y/NNo
AppliancesElectric Oven, Free-Standing Range, Gas Range, Microwave, Refrigerator, Range Hood
Architectural StyleCustom
Building Area UnitsSquare Feet
Cap Rate5.2
Carport Spaces3
Carport Y/NYes
CityLos Angeles
Community FeaturesCurbs, Gutter(s), Street Lights, Sidewalks, Urban
Construction MaterialsConcrete, Stucco
ContingencyNo Contingencies
CoolingElectric, Wall/Window Unit(s), Zoned
CountyLos Angeles
Current FinancingConventional
DirectionsFrom MARTIN LUTHER KING JR BLVD Heading EAST, Go SOUTH on MCKINLEY AVE, Then Go EAST on 40th PL, SUBJECT PROPERTY Located Middle of 40TH PL on LEFT SIDE
DisclosuresCity Inspection Required, Rent Control
ElectricElectricity - On Property, Standard
Electric Expense
Entry Location1
Garage Spaces
Garage Y/NNo
Gross Income92400
HOANo
HOA Fee$
HeatingWall Furnace
Insurance Expense3800
Land Lease Y/NNo
LevelsThree Or More
Listing TermsCash, Cash to New Loan, Conventional, FHA, Submit
Lot Size Square Feet6309
Lot Size UnitsSquare Feet
MLS AreaC42 - Downtown L.A.
MaintenanceExpense4000
Net Operating Income84600
New ConstructionNo
Number Of Units Total4
Number of Units Leased4
Open Parking Spaces6
Operating Expense7800
Pool FeaturesNone
PossessionClose Of Escrow, Negotiable
PostalCityLOS ANGELES
Property Attached Y/NNo
Property ConditionAdditions/Alterations, Updated/Remodeled, Turnkey
Property Sub Type AdditionalQuadruplex
Property SubtypeQuadruplex
Property TypeResidential Income
Rent Control Y/NYes
RoofShingle
Security FeaturesCarbon Monoxide Detector(s), Fire Detection System, Security Gate, Smoke Detector(s), Window Bars
Senior Community Y/NNo
SewerPublic Sewer
Spa FeaturesNone
Special Listing ConditionsStandard
Standard StatusActive
StatusActive
Tax Lot15
Tenant PaysAll Utilities, Electricity, Gas, Sewer, Trash Collection, Telephone
Total Actual Rent7700
Trash Expense0
UtilitiesElectricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
ViewCity Lights, Neighborhood
Walk Score78
Water Sewer Expense0
Year Built2006
Year Built SourceBuilder

Exterior for 879 E 40th Place

Building Area Total4700
Door FeaturesStorm Door(s)
FencingBlock
Foundation DetailsSlab
Lot FeaturesLevel, Near Public Transit, Rectangular Lot, Street Level
Lot Size Acres0.1448
Lot Size Area6309
Lot Size SourceAssessor
Number of Buildings1
Number of Separate Electric Meters5
Number of Separate Gas Meters4
Number of Separate Water Meters1
Parking FeaturesAttached Carport, Assigned, Concrete, Driveway Level, On Site, Side By Side
Private PoolNo
Road Frontage TypeCity Street
Road Surface TypePaved
SpaNo
Total Parking9
Water SourcePublic

Additional Details

Price History

Schools

High School Hubert H Humphrey Middle School
Middle School N/A
Elementary School Big Hollow Elementary School

Connect Realty

Price $1,600,000
MLS#OC26053122
List Date 03/13/2026
Property Type Multi-Family
Phone 888.795.6274
Get pre-approved
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Request Info
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