About 1503 257th
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.
