879 East 40th Place, Los Angeles, CA 90011
879 East 40th Place, Los Angeles, CA 90011
Property Description
Exceptional Investment Opportunity To Acquire A Large Income-Producing 4-Unit Property In The High-Demand South Los Angeles / Downtown LA Rental Market. Well-Maintained Quadplex Offers 11 Bedrooms, 5 Bathrooms And Approximately 4,700 Square Feet Of Total Living Space On A 6,300± Square Foot Lot in LARD1.5-1 Zoning, Making It One Of The Larger Multifamily Assets In The Immediate Area. Unit1: 4Bed/2Bath Unit2: 3Bed/1Bath Unit3: 2Bed/1Bath Unit4: 2 Bed/1Bath. Additionally, With Rare Amenities Of 9 Total Private Parking Spaces (3 Covered Car Port Parking + 6 Private Uncovered – This Improves Tenant Retention And Value As Parking Is Sparse In The Area. Individually Separately Metered For Gas And Electricity. The Property Was Fully Rebuilt In 2006 And Has Received Recent Minor Updates, Providing Investors With The Benefit Of Modernized Construction Relative To Surrounding Vintage Housing Stock, Improved Structural Integrity, And Reduced Capital Expenditure Requirements. Interior Features: Shaker Kitchen Cabinets, Newer Paint, Newer Flooring, Newer Windows, Newer Sinks, Newer Bathroom Vanities, Newer Showers, Recessed Lighting, And Modern Fixtures. Ground Floor Laundry Area In Ground Floor Unit #879 With Access To Exterior (Could Be Transformed Into Shared Laundry With Coin-op Laundry, Adding Additional Income). The Property Is Fully Rented, Currently Generating Approximately $7,700 Per Month In Gross Rental Income, Offering Stable Cash Flow From Day One. With The Strong Demand For Affordable Housing In The 90011 Corridor, The Asset Presents A Compelling Opportunity For Continued Rental Growth Through Strategic Rent Adjustments, Improved Management, Or Unit Upgrades. Actualize The Development And Density Potential Upside With Improving Rental Income By ADU Development (2-4 ADU Possible), Carport Conversions, Redevelopment Utilizing LA And State Housing Incentives For Higher Density Housing + Transportation Area Incentives. RD1.5-1 Zoning, Transit Oriented Communities (TOC Tier 1), ZI-2374 State Enterprise Zone LA, Transit Oriented Incentive Area 1 (TOIA). Well Positioned – Very Close To USC, Future Olympics Location, Major Transportation Corridors, Retail And Employment Hubs. Ideal For Investors, 1031 Exchange Buyers, Value-Add Builders, Developers Seeking Rental Market With Prime Unit Mix In TOC Zone (8-12 Units Possible) With Rental Pro-Forma Of Approximately $27,600 Per Month After Redevelopment. Your Investment Opportunity Is Here, Call Listing Agent NOW!
Features & Amenities
Property Details
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Comparative Market Analysis
Luxury Tier · 5 active · 5 closed
Los Angeles · Quadruplex
Listed 25.5% above the median closed sale price of $1,275,000. At $340/sqft, the subject is above the comp average of $289/sqft. Comparable homes are selling at 85.9% of list price — buyers have negotiating leverage. Average days on market is 165 — expect a longer selling timeline in this segment. Luxury tier: fewer comparable sales are available, widening the confidence range.
Price Position
Positioned above the market — commands a premium.
Active Properties (5)
Active Comparables
| Address | City | Year | BD | BTH | SqFt | LotSz | LP/SqFt | LP | DIM | Score |
|---|---|---|---|---|---|---|---|---|---|---|
| 2632 West 16th, Los Angeles, CA 90019 | Los Angeles | 1992 | 0 | 0 | 3,524 | 6,076 | $624 | $2.20M | 128 | 61 |
| 234 North Burlington Avenue, Los Angeles, CA 90026 | Los Angeles | 2023 | 0 | 0 | 4,798 | 6,000 | $537 | $2.58M | 210 | 54 |
| 1143 Irolo, Los Angeles, CA 90006 | Los Angeles | 2021 | 0 | 0 | 5,475 | 5,903 | $457 | $2.50M | 107 | 53 |
| 147 North Chicago, Los Angeles, CA 90033 | Los Angeles | 1903 | 0 | 0 | 4,761 | 7,057 | $167 | $795,000 | 181 | 52 |
| 1415 North Mariposa, Los Angeles, CA 90027 | Los Angeles | 1921 | 0 | 0 | 3,816 | 6,791 | $485 | $1.85M | 112 | 51 |
| Total: 5 · Average | 0.0 | 0.0 | 4,475 | 6,365 | $454 | $1.98M | 148 | |||
| Median | 4,761 | $2.20M | ||||||||
Closed Properties (5)
Closed Comparables
| Address | City | Year | Date | BD | BTH | SqFt | LotSz | LP | SP | SP/SqFt | SP/LP | DIM | Score |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2309 Hauser Boulevard, Los Angeles, CA 90016 | Los Angeles | 1965 | 11/25/2025 | 0 | 0 | 4,712 | 5,269 | $1.59M | $1.59M | $338 | 1.00 | 199 | 54 |
| 3011 Stocker Place, Los Angeles, CA 90008 | Los Angeles | 1938 | 09/04/2024 | 0 | 0 | 4,904 | 6,060 | $1.26M | $1.27M | $260 | 1.01 | 214 | 53 |
| 1734 4th Avenue, Los Angeles, CA 90019 | Los Angeles | 1922 | 10/08/2024 | 0 | 0 | 4,624 | 7,003 | $1.29M | $1.15M | $248 | 0.88 | 82 | 53 |
| 803 North Kingsley Drive, Los Angeles, CA 90029 | Los Angeles | 2019 | 12/08/2025 | 0 | 0 | 5,390 | 7,314 | $2.50M | $2.22M | $411 | 0.89 | 198 | 52 |
| 1243 South Kenmore Avenue, Los Angeles, CA 90006 | Los Angeles | 1905 | 09/30/2025 | 0 | 0 | 3,985 | 5,905 | $1.47M | $750,000 | $188 | 0.51 | 131 | 52 |
| Total: 5 · Average | 0.0 | 0.0 | 4,723 | 6,310 | $1.40M | $1.40M | $0 | 0.86 | 165 | ||||
| Median | 4,712 | $1.27M | $1.27M | ||||||||||
Market Analysis
List vs Sale $/SqFt
Sale Price Trend
Days on Market
Sale vs List Price
This analysis was generated automatically from MLS data. For an in-depth, human-reviewed valuation, contact Joseph Sardella at josephsardella@gmail.com.