Property listed by Global Platinum Properties, Inc., Armin Soleimani 424-394-1030
$1,095,000
Huge ~200k Price Reduction! 6-unit value-add building with 12 parking spaces cash flowing at a 6.35% Cap Rate from day 1 with upside to an 11.6% Cap on Proforma! Fully Approved RTI plans to add 6 detached ADUs to achieve an incredible 13.3% Current Cap Rate, 16.5% Proforma Cap, and… Read More only 147k/unit after taking into account all the construction costs (~670k assuming $250/SF). 3 units have been renovated and boast updated cabinets, flooring, kitchen, bathrooms, exterior improvements, newer roof, new windows for all units, and more. Individually metered for gas, electricity, and tenants pay their own trash further minimizing the operating expenses. Prime location just minutes away from Downtown LA, USC, BMO Stadium, George Lucas' Billion Dollar Museum, and Exposition Park where 2028 Olympics will be held! Read Less
Listing Snapshot
Days Online
4
Last Updated
Beds
7
Square Ft.
2,838
Lot Size
0.14 Acres
Year Built
1924
MLS Number
26852461
Additional Details
Building
Built in 1924, Living area: 2838.0, 3 buildings, 2 stories, Levels: One
Heating
WallFurnace
Income
Gross Income: $100,917, Net Operating Income: $69,509
Lot
0.145 acres, Dimensions: 50x126
Parking
12 total parking spaces, Gated
Taxes
Parcel Number: 5118009019, Zoning: LARD1.5
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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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