1401 W 42nd Place, Los Angeles, California 90062, Los Angeles, 90062 - bed, bath

1401 W 42nd Place, Los Angeles, California 90062 home-pic-0
ACTIVE$2,280,000
1401 W 42nd Place, Los Angeles, California 90062
0Bed
0Bath
5,952Sqft
5,953Lot
Year Built
2018
Close
-
List price
$2.28M
Original List price
$2.28M
Price/Sqft
$383
HOA
-
Days on market
-
Sold On
-
MLS number
OC25183557
Home ConditionExcellent
Features
Good View:
View-

About this home

We found 3 Cons,5 Pros. Rank: price - $2.28M(94th), sqft - 5952(94th), beds - undefined(50th), baths - undefined(50th).

No Rent Control (per zimars site on 8/25/23). $201,600 proforma yearly gross income as estimated. 1031 exchange or buy and use as primary. The standout feature of this property is its premium corner location, situated conveniently close to USC and the Stadium. Comprising of two distinct buildings on the lot, it offers a total of four units. Two of these units are generously sized five-bedroom layouts, while the remaining two units consist of comfortable four-bedroom layouts. At present, all four units are fully occupied, which makes this property a fantastic investment opportunity. Whether you're seeking a place to call home for yourself or aiming to capitalize on the real estate market, this property is well-suited for both scenarios. The interior boasts sleek laminated flooring, ensuring a contemporary and low-maintenance aesthetic. Additionally, each unit comes equipped with air conditioning, guaranteeing year-round comfort. The inclusion of dual-pane windows not only enhances energy efficiency but also contributes to a quieter and more peaceful living environment. One of the property's exceptional attributes is its south-facing orientation, which floods the interior spaces with ample natural light. This abundant brightness creates an inviting and vibrant atmosphere, ensuring that each unit feels welcoming and refreshing. In summary, this property's prime corner location, proximity to USC and the Stadium, multiple units with varying bedroom configurations, current full occupancy, modern features like laminated flooring. AC included with dual-pane windows for energy efficiency, and the sunlit interior due to its south-facing aspect make it a remarkable opportunity for both homeowners and investors alike. Figure for net operating income is just Gross Yearly income Proforma figure without any expenses taken out.

Price History

Date
Event
Price
08/14/25
Listing
$2,280,000
07/31/19
Sold
$2,000,000
Condition Rating
Excellent

This property was built in 2018, making it only 6 years old. This falls squarely within the 'Excellent' category's 'built within 10 years' criterion. The description highlights modern features such as sleek laminated flooring, air conditioning, and dual-pane windows, indicating that all major systems and finishes are new or virtually new and meet current quality standards. While interior images of kitchens and bathrooms are not provided, given the recent construction year and the overall modern description, it is highly probable that these areas also feature contemporary styles and are in excellent, move-in ready condition with no deferred maintenance.
Pros & Cons

Pros

No Rent Control: A significant advantage in Los Angeles, offering greater flexibility in rent adjustments and protecting long-term investment returns.
Prime Location & Proximity to USC/Stadium: Highly desirable corner location ensures consistent demand from students and university affiliates, supporting strong rental income and potential appreciation.
Newer Construction (Built 2018): Minimizes immediate capital expenditures and offers modern amenities like AC, dual-pane windows, and laminated flooring, appealing to quality tenants.
Fully Occupied Quadruplex with High Bedroom Count: Provides immediate, diversified income streams from four units, including spacious 4 and 5-bedroom layouts, ideal for group rentals and maximizing per-unit revenue.
Strong Gross Income Potential: Currently fully occupied with a proforma gross income of $201,600, indicating robust earning potential for investors.

Cons

Proforma Income is Gross, Not Net: The stated income figure is gross, without accounting for operating expenses, necessitating thorough financial due diligence to determine actual net operating income and profitability.
Potential for High Tenant Turnover: While proximity to USC is a strength, a student-centric tenant base may lead to higher turnover rates, increasing vacancy periods and re-leasing costs.
Unspecified Parking Availability: The listing lacks details on parking, which is a critical amenity for a multi-unit property in a dense urban area and could impact tenant desirability and rental value.

Best solution for experienced home buyers!

Data-driven home buying experience with our licensed real estate agents and cutting-edge AI

Browse Properties by State Browse housing market trends by state