Property listed by Coldwell Banker Realty, Mickey Kessler 310-820-6651
$1,348,000
Presenting an exceptional 8-unit multi-family property located in the desirable Baldwin Village neighborhood of Los Angeles. This well-maintained building sits on a spacious, verdant 10,799 sq ft lot and features 7,236 sq ft of rentable space. The property offers a well-balanced unit mix of 4, two-bedroom units and 4, one-bedroom… Read More units, each contributing to consistent cash flow. This is a rare probate sale with full seller authority to sell, meaning no court confirmation or overbid hearing is required. The process is streamlined for a fast and efficient transaction, making it an attractive opportunity for both seasoned investors and first-time buyers. All units are currently rented, generating a strong gross annual income of $116,304, plus an additional apx. $200 per year from the on-site laundry facility. With current rents significantly below market value (and priced accordingly), this investment has tremendous upside income potential with projected rents of $2,300/month for the 2-bedroom units and $1,900/month for the 1-bedroom units, boosting overall returns. The gated property boasts lovely landscaping, including fruit and specimen trees on the oversized lot, offering a serene and secure environment for tenants and 6 gated parking garage spaces. The property is ideally situated near key Los Angeles neighborhoods including Inglewood, Leimert Park, and Culver City. Residents enjoy easy access to the area's diverse dining, shopping, and entertainment options. Explore local favorites like the Baldwin Hills Crenshaw Plaza, with a wide variety of shops, eateries, and entertainment options, or enjoy the nearby restaurants and cafes in Leimert Park. For those commuting or seeking easy transit access, the property is conveniently located near the Crenshaw and Expo Metro lines, providing quick connections to Downtown LA, Culver City, and other major areas. Priced to attract multiple offers, this property presents an excellent opportunity for immediate cash flow and future appreciation, offering a competitive cap rate based on current net income (NOI). The Estate is motivated to sell quickly, and with no court delays or overbid hearings, this rare opportunity will not last long. Showings will only be arranged subject to an acceptable offer. Contact us today for more details! More photos to come, soon! UPDATE: Offers are due on or before Friday, January 24 2025 at 8 PM. Read Less
Listing Snapshot
Days Online
114
Last Updated
Property Type
Other
Beds
12
Square Ft.
7,236
Lot Size
0.25 Acres
Year Built
1955
MLS Number
25485289
30 Days Snapshot Of 90008
$1.35M
-1%
(avg) sold price
6
-50%
homes sold
77
+5%
(avg) days on market
Snapshot
Area Map
Additional Details
Appliances & Equipment
Dishwasher, Disposal, Refrigerator
Building
Built in 1955, Building area total: 7,236, Levels: Two, Living area: 7236, 2 stories, 1 building
Cooling
None
Heating
WallFurnace
Income
Gross income: $116,504, Net operating income: $72,046
Lot
0.2479 acres, 10,799 square feet, Size: 10,799
Parking
8 totals parking, Assigned
Property
Zoning: LAR3
Tenant Pays
CableTv, Electricity, Gas, Water
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Based on information from California Regional Multiple Listing Service, Inc. as of and/or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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