645 W. 97th Street is now offered at a 7.47% CAP and 10.07 GRM, following a $100,000 price reduction, equating to $323 per SF on 2020 construction. The combination of newer build quality, larger floor plans, and in-place return creates a profile that is increasingly difficult to source in South LA. Completed in 2020, the triplex is exempt from the City of LA RSO and CA AB-1482 and is not subject to annual rent caps (buyer to verify). The absence of local and statewide rent control provides operational flexibility that many surrounding assets do not offer. The property consists of three 4-bdrm. / 3-bath units averaging approx. 1,600 SF each. These are not compact apartment layouts. The scale allows for full living and dining areas, defined bedroom separation, and a floor plan that accommodates larger households or shared living arrangements. The front unit will be delivered vacant at close of escrow, offering optionality for an owner-user or the ability to reset rents at turnover. Interiors reflect contemporary construction rather than cosmetic renovation. Wide-plank wood-style vinyl flooring runs throughout the living areas, paired with recessed lighting and central A/C. Kitchens are configured with full-height cabinetry, tile backsplash, stainless-steel appliances, and generous prep space. Bathrooms incorporate modern vanities and clean-lined tilework, with finishes that feel cohesive rather than pieced together over time. In addition, tenants pay their own utilities, keeping operating expenses straightforward. The site spans 6,301 SF and is arranged across two structures, with an open parking court separating the front residence from the rear duplex. That separation provides breathing room between units and gives the property a more residential rhythm than traditional multifamily buildings. 645 W. 97th offers what many smaller South LA assets do not: 2020 construction, larger 4-bdrm. layouts, no rent caps, and a 7.47% return at a $323 per foot basis. The scale, condition, and pricing stand on their own, without renovation assumptions or regulatory uncertainty layered in.
