4502 Wesley Ave Los Angeles, CA 90037

An 8-unit value-add opportunity in South Los Angeles. Located just south of Vernon Ave between Vermont Ave & Figueroa St, this opportunity allows an investor to purchase an asset less than 1 mile away from the University of Southern California and a couple miles from Downtown Los Angeles. The building features an ideal unit mix of 8 spacious two-bedroom units. The units are currently leased at below market rents, offering an investor significant rental upside over 67% achievable through renovations such as recessed lighting and upgraded kitchens and bathrooms. At the asking price, the pro forma CAP rate is 8.44% when stabilized. This building has a walk score of 76 which means that a vast majority of errands can be accomplished on foot. Moreover, it has a transit score of 63, being conveniently located to various nearby public transportation options. The property is located right across Marguerite Poindexter LaMotte Elementary School, a 3-min walk from 7-Eleven, and 10-min walk from a Ross. This neighborhood in Los Angeles is a rapidly gentrifying and densely populated rental market with multiple developments proposed or under construction nearby (836 W 42nd Pl, 4219-4227 S Broadway, and 3800 S Figueroa). Continuing developments underway point to a tremendous opportunity to invest in an area undergoing urban renewal.