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Listed by Joshua Hammond • Compass
$1,149,000
Est. payment /mo
3,551 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Quadruplex
Listing Status Active
Purchase Type For Sale
Square Footage 3,551 sqft
Price per Sqft $323
MLS Listing ID SB-26139825
Year Built 1951
Lot Size 6,710 Sqft
Property Sub-Type Quadruplex
Source California Regional Multiple Listing Service (CRMLS)
Property Description
This fully occupied 4-unit quadruplex at 1503 W 257th St offers one of the most compelling value-add stories on the market today — with rents significantly below market rate, the path to a 7% CAP rate is already mapped out for you.
Major updates in 2020: Full remodel of front house, exterior paint and termite clerance/tenting.
The property currently generates $5,543/month in gross rents, but make no mistake — that number tells only half the story. With units priced well under prevailing market rents in the Harbor City area, a savvy buyer has immediate runway to close the gap and dramatically boost NOI. Bring rents to market and this property performs at a 7% CAP rate — exceptional for the Los Angeles South Bay market.
Spanning 3,551 sq ft across 9 bedrooms and 4 bathrooms on a corner lot, this well-maintained quadruplex offers the scale to move the needle. Four garage spaces add a premium amenity that commands top-of-market rents and reduces vacancy. In-unit laundry hookups in each unit further strengthen the rental appeal.
Harbor City's fundamentals back up the upside. A Walk Score of 87 means tenants aren't going anywhere — strong walkability drives demand, limits vacancy, and supports rent growth over time. With schools, shopping, and transit all nearby, this location consistently attracts quality, long-term renters.
Major updates in 2020: Full remodel of front house, exterior paint and termite clerance/tenting.
The property currently generates $5,543/month in gross rents, but make no mistake — that number tells only half the story. With units priced well under prevailing market rents in the Harbor City area, a savvy buyer has immediate runway to close the gap and dramatically boost NOI. Bring rents to market and this property performs at a 7% CAP rate — exceptional for the Los Angeles South Bay market.
Spanning 3,551 sq ft across 9 bedrooms and 4 bathrooms on a corner lot, this well-maintained quadruplex offers the scale to move the needle. Four garage spaces add a premium amenity that commands top-of-market rents and reduces vacancy. In-unit laundry hookups in each unit further strengthen the rental appeal.
Harbor City's fundamentals back up the upside. A Walk Score of 87 means tenants aren't going anywhere — strong walkability drives demand, limits vacancy, and supports rent growth over time. With schools, shopping, and transit all nearby, this location consistently attracts quality, long-term renters.
Location
State CA
County Los Angeles
Area 124 - Harbor City
Interior
Laundry Gas Dryer Hookup, In Kitchen
Exterior
Garage Spaces 4.0
Pool None
Community Features Sidewalks
Building
Lot Description Corner Lot
Sewer Public Sewer
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Nearby Locations
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John R Thompson
Broker/Owner | License ID: 01200900
Broker/Owner License ID: 01200900