1047 E 33rd Street, Los Angeles, CA 90011

• 4,615 sqft

Property Description

We are pleased to present 1047 E 33rd Street, an 8-unit apartment building located just south of Downtown Los Angeles. The property features two brand-new ADUs and six on-site parking spaces, offering investors a rare combination of modern upgrades and reliable tenant demand in a dense infill location. Priced at just $156,250 per unit and $270 per square foot, the building delivers immediate income at a 6.55% in-place cap rate and 8.67 GRM, with pro forma rents supporting a 13.70% cap rate and 5.25 GRM. Several units remain below market, presenting over 40% upside potential through organic turnover or a cash-for-keys program, while the two new ADUs and secure parking provide long-term competitive advantages in tenant retention and investment stability. The mix of singles, one-bedrooms, and two-bedrooms appeals broadly to USC students, young professionals, and families seeking proximity to Downtown employment centers, Exposition Park, and major transit lines. In addition, the property qualifies for 100% bonus depreciation under the One Big Beautiful Bill Act, creating meaningful tax shelter opportunities in the early years of ownership. With its low entry basis, diversified unit mix, and substantial rental upside, 1047 E 33rd Street represents a compelling acquisition opportunity

Listing Status:

Active

Date Added:

September 22, 2025 at 05:00AM

Listing Office:

Marcus & Millichap : 310-909-5450

Listing Agent:

Benjamin Lee : 310-909-2317

MLS ID:

CL25599399

Interior

• Appliances: Dryer
• Laundry: DryerWasherNo Hookups
• Heating: Other

Exterior

• Parking: Other

Location

• County: Los Angeles

Lot

• Zoning: LARD5114019010

This listing courtesy of Benjamin Lee, Marcus & Millichap