532 Vernon

Newly Built 5-Unit Apartment Building in South Los Angeles–Investor Ready! Immediate upside without displacing tenants, rent has never been raised, raising rent raises the Cap rate above 7% for an immediate value add. This stunning newer construction 5-unit multifamily property completed in 2023, offering a rare combination of modern design, premium finishes, and central location. Perfectly positioned in a vibrant South Los Angeles neighborhood, this property sits just west of S. Figueroa Street and S of W. Vernon Avenue, placing residents minutes from Downtown LA, USC, Exposition Park, and major commuter routes. Spread across three beautiful buildings, the property boasts an exceptional unit mix: One(1) spacious 1-bedroom, 1.5-bath ADU with off street parking spot and washer/dryer included; Two (2) large 3-bedroom, 3-bath townhouse-style units; Two (2) expansive 4-bedroom, 4-bath townhouse-style units The four front units span three stories each, while the rear ADU offers a comfortable two-story layout—each with thoughtfully designed open floor plans, abundant natural light, and modern amenities. Inside, you’ll find high ceilings, contemporary kitchens with stainless steel appliances, designer cabinetry, and stone countertops, along with beautiful flooring, recessed lighting, and energy-efficient systems. The 3 & 4 Bedroom units each have their own 2-car garage with washer/dryers included. For energy efficiency, each unit also has solar panels with installed meters. This east management free building has no utility expense. The only expenses are insurance for $2500 and property taxes for $33,000. Location is key, and this property delivers—just two miles from USC, making it a prime choice for off-campus housing, and less than four miles to Downtown LA for working professionals. Outdoor enthusiasts will love being minutes from Banc of California Stadium, Exposition Park, and Julian C. Dixon Park, while everyday convenience is met with nearby shopping, dining, and retail along Figueroa Street. As a non–rent-controlled and newly constructed asset in a rapidly gentrifying market, this turnkey investment opportunity has strong rental income potential. 4 units have tenants and one unit is about to be rented. Whether catering to students professionals, or families, this property is primed to deliver exceptional long-term value. Don’t miss your chance to own a premier multifamily property in one of Los Angeles’ fastest-growing neighborhoods!