Renovated Fourplex + 2 ADUs Non-Rent Control
9.31% Cap 6 Unit Turnkey Opportunity
Marketing description
1046 W 83rd Street presents a rare opportunity to acquire a beautifully renovated six-unit multifamily asset in the heart of Los Angeles. The property originally consisted of a triplex. In 2025, ownership completed construction of two detached ADUs, which are exempt from rent control. In 2026, ownership converted the original triplex into a fourplex after gutting and fully upgrading the interiors of all original units. Four units are currently vacant, allowing a new owner to lease at market rents with minimal additional capital investment. Major system upgrades, including new electrical, copper plumbing, and brand new ADU construction, substantially reduce future capital expenditure risk. Strategically located near the Evermont mixed-use development, USC, major employment centers, and convenient freeway and transit access, the property offers investors an attractive combination of strong long-term rental demand and projected stabilized returns.
**Contact Kyana Morgan with the Kelly Morgan Multifamily Group for more information (310) 740-4581 or [email protected]**
Investment highlights
*Financial Metrics* - Projected 9.31% Cap Rate and 7.76 GRM
*Property Features* - Extensively Renovated Six Unit Asset: Original triplex reconfigured into a fourplex with fully renovated interiors, complemented by two newly constructed detached ADUs completed in 2024.
*Location Benefits* - Convenient access to Downtown Los Angeles, Inglewood, LAX, and the I-110 and I-105 freeways, with future benefits from Metro's Vermont Transit Corridor Bus Rapid Transit project.
*Nearby Developments* - Just 0.5 miles from the Evermont mixed-use development and within close proximity to USC, providing access to major employment centers, retail, transit, and a large, stable renter base.
*Additional Details* - 4 Vacant Units Ready for Market Rents
*Non Rent Control Units* - 2 Detached ADUs Exempt from LA City Rent Control
*Major Capital Improvements Completed* - New electrical system (400-amp, six-gang meter main panel and new subpanels), copper plumbing, and brand new ADU construction.
*Bridge loan financing available upon request.
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