$950,000

917 E 40th Place Los Angeles, CA 90011

Historic South Central Neighborhood

Estimated payment $5,607/month

Total Views 41
2 Beds
1 Bath
3,600 Sq Ft
$264 Price per Sq Ft

Highlights

  • 0.29 Acre Lot
  • No HOA
  • Living Room
  • Traditional Architecture
  • Cooling System Mounted To A Wall/Window
  • Laundry Room

About This Home

Only $75/sf land with huge upside. Value Add Opportunity! This fully occupied 7 unit multifamily property is comprised of four separate buildings on a big 12,567sf lot zoned RD1.5. All the units are currently tenant occupied w/ good rent histories, no delinquencies, and the property offers huge upside in the rents allowing for a local and/or savvy investor to create value and maximize rents. Built in 1924, this property totals 3,600sf in size and offers a solid unit mix with (7) 2 bed/1 bath bungalow style units each with a decent layout, full kitchen & bath, roomy bedrooms, washer/dryer hookups, and some private patio area. On a large 0.29acre double size lot, there are two driveways w/ a total of 10 open parking spaces to provide ample use by tenants & guests. Well located in Los Angeles near Downtown, Crypto Arena, & close proximity to USC and the 110 Freeway. Terrific Opportunity!

Listing Agent

Brian Noh

Nohco Real Estate Brokerage Phone: 9493085775 License #01438155 Listed on: 02/10/2026

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1924

Lot Details

  • 0.29 Acre Lot
  • 1 Common Wall
  • South Facing Home
  • Wood Fence
  • Landscaped
  • Density is 6-10 Units/Acre

Home Design

  • Traditional Architecture
  • Apartment
  • Entry on the 1st floor
  • Raised Foundation
  • Composition Roof
  • Stucco

Interior Spaces

  • 3,600 Sq Ft Home
  • 1-Story Property
  • Ceiling Fan
  • Living Room

Kitchen

  • Gas Range
  • Dishwasher
  • Disposal

Flooring

  • Carpet
  • Tile

Bedrooms and Bathrooms

  • 2 Bedrooms
  • 1 Bathroom

Laundry

  • Laundry Room
  • Washer and Gas Dryer Hookup

Home Security

  • Carbon Monoxide Detectors
  • Fire and Smoke Detector

Parking

  • 10 Open Parking Spaces
  • 10 Parking Spaces
  • Parking Available

Outdoor Features

  • Exterior Lighting

Utilities

  • Cooling System Mounted To A Wall/Window
  • Wall Furnace
  • Water Heater
  • Phone Available
  • Cable TV Available

Listing and Financial Details

  • Legal Lot and Block 7 / F
  • Assessor Parcel Number 5114012028
  • $1,332 per year additional tax assessments

Community Details

Overview

  • No Home Owners Association
  • 4 Buildings
  • 7 Units

Building Details

  • 7 Leased Units
  • Rent Control
  • 7 Separate Electric Meters
  • 7 Separate Gas Meters
  • 1 Separate Water Meter
  • Operating Expense $44,718
  • Gross Income $86,052
  • Net Operating Income $39,613

Property Details

Home Type

Multi-Family

Year Built

Built in 1924

Lot Details

0

Listing Details

  • Assessments: Yes
  • Property Attached: Yes
  • Security: Carbon Monoxide Detector(s), Smoke Detector(s)
  • View: No
  • Architectural Style: Traditional
  • Property Sub Type: Apartment
  • Property Type: Residential Income
  • Parcel Number: 5114012028
  • Year Built: 1924
  • Special Features: None

Interior Features

  • Fireplace: No
  • Interior Amenities: Ceiling Fan(s)
  • Stories: 1
  • Common Walls: 1 Common Wall
  • Flooring: Carpet, Tile
  • Appliances: Yes
  • Entry Level: 1
  • Levels: One
  • Price Per Square Foot: 263.89
  • Room Type: All Bedrooms Down, Kitchen, Living Room, Main Floor Bedroom

Exterior Features

  • Direction Faces: South
  • Foundation: Raised
  • Fence: Yes
  • Fencing: Wood
  • Pool Private: No
  • Roof: Composition
  • Spa: No
  • Construction Materials: Stucco

Garage/Parking

  • Parking: Yes
  • Parking Features: On Site, Uncovered
  • Total Parking Spaces: 10.00
  • Uncovered Spaces: 10.00

Utilities

  • Utilities: Cable Available, Electricity Available, Natural Gas Available, Phone Available, Sewer Available, Water Available
  • Heating: Yes
  • Laundry: Yes
  • Appliances: Dishwasher, Disposal, Gas Range, Water Heater
  • Heating Type: Wall Furnace
  • Laundry Features: Gas Dryer Hookup, Washer Hookup
  • Sewer: Public Sewer
  • Water Source: Public
  • Cooling: Wall/Window Unit(s)
  • Cooling: Yes

Condo/Co-op/Association

  • Association: No
  • Senior Community: No
  • Common Interest: Community Apartment
  • Community Features: Curbs, Sidewalks, Street Lights

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: 6-10 Units/Acre, Landscaped, Lot 10000-19999 Sqft
  • Lot Size Sq Ft: 12567.00
  • Lot Size Acres: 0.2885

Rental Info

  • Tenant Pays: Electricity, Gas, Trash Collection

Multi Family

  • Gross Income: 86052.00
  • Gross Multiplier: 11.00
  • Gross Scheduled Income: 86052.00
  • Lot Size Area: 12567.0000 Square Feet
  • Net Operating Income: 39613.00
  • Number Of Separate Electric Meters: 7
  • Number Of Separate Gas Meters: 7
  • Number Of Separate Water Meters: 1
  • Number Of Units Leased: 7
  • Number Of Units Total: 7
  • Operating Expense: 44718.00
  • Rent Control: Yes
  • Total Actual Rent: 7171.00
  • Total Expenses: 44718.00

Tax Info

  • Tax Block: F
  • Tax Lot: 7
  • TaxOtherAnnualAssessmentAmount: 1332.00

Map

Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $7,968 $568,910 $246,282 $322,628
2024 $7,968 $557,755 $241,453 $316,302
2023 $7,835 $546,819 $236,719 $310,100
2022 $7,516 $536,098 $232,078 $304,020
2021 $7,418 $525,587 $227,528 $298,059
2020 $7,479 $520,198 $225,195 $295,003
2019 $7,225 $509,999 $220,780 $289,219
2018 $6,969 $500,000 $216,451 $283,549
2016 $6,614 $480,587 $208,047 $272,540
2015 $6,529 $473,369 $204,922 $268,447
2014 $6,596 $464,097 $200,908 $263,189
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
02/10/2026 02/10/26 For Sale $950,000 -- $264 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Purchase History

Date Type Sale Price Title Company
Interfamily Deed Transfer -- Provident Title Company
Grant Deed -- Fidelity National Title Co
Trustee Deed $481,200 None Available
Grant Deed $380,000 Ticor Title Company
Source: Public Records

Mortgage History

Date Status Loan Amount Loan Type
Open $600,000 Commercial
Previous Owner $380,000 Seller Take Back
Source: Public Records

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: OC26029405

California Regional Multiple Listing Service (CRMLS)

APN: 5114-012-028

California Los Angeles County Los Angeles 90011 Historic South Central

917 E 40th Place, Los Angeles, CA

For Sale

MultiFamily

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California Regional Multiple Listing Service (CRMLS) The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.

Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information

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Brian Noh
Listing Agent
Brian Noh
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Nohco Real Estate
(213) 804-7647