939 W College, Los Angeles, CA 90012
Local realty services provided by:Better Homes and Gardens Real Estate Clarity
939 W College,Los Angeles, CA 90012
$5,790,000
- - Beds
- - Baths
- 22,677 sq. ft.
- Multi-family
- Active
Listed by: handoko chen
Office: growth investment group pasade626-594-4900
MLS#:AR26076578
Source:CRMLS
Price summary
- Price:$5,790,000
- Price per sq. ft.:$255.32
About this home
PRICED BELOW REPLACEMENT COST! 29-Unit Value-Add Opportunity by DODGER STADIUM w/ Panoramic DTLA Views, High-Upside Asset (±76% Rental Upside), 1972’s Construction, Seller May Carry 1st Trust Deed.
939 W College St., a 29-unit value-add apartment community by the Dodger Stadium area, within the Solano Canyon neighborhood. This value-add apartment investment was built in 1972 and offers an excellent location just within walking distance to the Dodger Stadium, Elysian Park, and just minutes away to Downtown Los Angeles, Chinatown, Little Tokyo, and all the shopping and lifestyle options in those areas. The property was solidly constructed with steel and concrete construction and offered at a very low price per unit and low price per square foot for it’s location and asset quality.
Value-Add Potential The property is primed for aggressive repositioning. With current rents approximately 76% below market and all tenants on month-to-month leases, a new operator can capture the loss-to-lease upon unit turnover (subject to City of Los Angeles RSO). The Pro Forma analysis projects a stabilization Cap Rate of nearly 9.74%, making this a premier hedge against inflation. To facilitate a smooth transaction, the long-term owner (nearly 30 years) may be open for a Seller Carry Financing (1st TD – 3year term - IO) for a qualified buyer with strong financials (40% down payment required).
The property is a podium style 4-story apartment that was built in 1972, has a large 22,677 SF building size, and situated on a ±12,171 SF LA-R4 zoned lot. It is a secured building with gated parking, has a central courtyard, shared laundry area (seller own machines), elevator, and covered garage parking. It offers a SUPERB unit mix of three (3) x 3bedroom + 2bathroom, twenty (20) x 2bedroom + 1bathroom, five (5) x 1bedroom + 1bathroom, and one (1) x Studio units. Approximately five (5) of the units have been updated (buyer to verify). Twenty-four (24) units have private balconies/patio with almost each balcony providing an unparalleled view of Downtown Los Angeles and the city. Each unit is separately metered for electricity and gas. All the units have updated electrical subpanels, and the main panels are waiting to be upgraded (pending permit from city).
The property has a central water heater, shared laundry room (seller own machines), and an elevator. All the tenants are on month-to-month lease. Parking is secured provided by 29 spaces....
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Home facts
- Year built:1972
- Listing ID #:AR26076578
- Added:60 day(s) ago
- Updated:May 23, 2026 at 01:22 PM
Rooms and interior
- Flooring:Carpet, Tile, Vinyl, Wood
- Living area:22,677 sq. ft.
Heating and cooling
- Cooling:Wall Window Units
- Heating:Wall Furnace
Structure and exterior
- Roof:Flat
- Year built:1972
- Building area:22,677 sq. ft.
- Lot area:0.28 Acres
- Lot Features:Level with Street, Near Public Transportatn, Rectangular Lot, Street Level
- Architectural Style:Contemporary
- Levels:Three Or More
Utilities
- Water:Public
- Sewer:Public Sewer
Finances and disclosures
- Price:$5,790,000
- Price per sq. ft.:$255.32
- Tax amount:$68,749
Features and amenities
- Laundry features:Common Area
Parking
- Total parking spaces:29
- Parking description:Assigned
- Garage:Yes
- Garage spaces:29
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