Property listed by Kidder Mathews of California, Inc., Casey Lins 858-369-3010
$1,285,000
We are proud to present 914 E Martin Luther King Jr Blvd, a recently repositioned 4-unit + ADU (5-Units Total) multifamily community operating at a 9.87 GRM and 7.29% CAP Rate on actual rents upon lease-up of the 2 VACANT and RENOVATED units, with upside to operate at an 8.50… Read More GRM and an 8.88% CAP Rate at market rents. This opportunity consists of two separate structures with a front 2-story 4-unit building built in 1948 as well as a rear newly constructed, standalone single-story home (ADU) totaling 2,651 rentable square feet situated on a 3,329 square foot LARD1.5 zoned midblock lot with a currently configuration offering uncovered onsite parking. The unit mix consists of 4 two-bedroom units (one of which is a brand new ADU!), with 2 UNITS DELIVERED VACANT (both 2-bedrooms)! 914 E Martin Luther King Jr Blvd is situated 10 minutes from Downtown Los Angeles, Ross Snyder Recreation Center, Gilbert Lindsay Recreation Center and just 3 minutes away from the closest large-chain grocer (Superior Grocers), providing tenants close proximity to numerous employment opportunities and tenant amenities. Contact the listing broker for additional information. Read Less
Listing Snapshot
Days Online
62
Last Updated
Beds
9
Square Ft.
2,651
Lot Size
0.08 Acres
Year Built
1948
MLS Number
26827119
Additional Details
Building
Built in 1948, Living area: 2651.0, 2 buildings, 2 stories, Levels: Two, Entry level: 1
Disclosures
RentControl
Income
Gross Income: $130,139, Net Operating Income: $93,635
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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