1980 Park Grove Ave, Los Angeles, CA 90007

Mid-Century 4-Plex in University Park Near USC

Sold: $925,000

Property Highlights

Mid-century quadruplex near USC & DTLA
3,700 total SqFt; large units avg. 925 SqFt each
All 2-bedroom / 1-bath units
Four open air parking spots down private driveway
0.13 Acre SqFt Lot Zoned LARD1.5
Long term tenants present major upside potential, over 50%
Delivered with 1 vacancy at closing
Within the USC DPS Patrol Zone, 24 hours per day & 7 days per week
First time on the market in 59 years! Property was built by the current owner.

The Deal Story

The Glaser Group is pleased to announce the successful closing of 1980 Park Grove Ave in Los Angeles, a value-add quadruplex investment opportunity near USC. This four-unit multifamily property offers a strong mix of all large two-bedroom / one-bathroom units, each averaging 925 square feet. The current below-market rents present an extraordinary 53% upside potential, positioning this quadruplex as an attractive opportunity for investors seeking substantial returns. The property was also delivered with one vacant unit. Additionally, the property provides four off-street uncovered parking spaces down a private driveway. The building is within the USC DPS Patrol Zone, 24 hours per day & 7 days per week. This is the first time the property has traded in 59 years, as it was built by the current owner!

By leveraging our strong local ties in the LA apartment market, our team was able to secure a strong local buyer and open escrow within 1 week of listing the asset. We ultimately closed a smooth escrow within 45 days.

As part of a broader portfolio sale, we have assisted our client (long-term LA apartment owners) in liquidating their portfolio and moving on from the apartment business. If you are considering a sale or a 1031 exchange of your own or would like to better understand your options, please reach out to my team.