Property listed by Wellman Realty Co., Wes Wellman 310-829-7423
$1,750,000
Offered at $1,750,000, this realistically priced 8-unit multifamily opportunity is located in the highly walkable Little Armenia/East Hollywood submarket, just steps from the Vermont/Santa Monica Metro B Line station. Built in 1926, the property showcases classic Spanish Revival architecture, vintage character, a period-appropriate exterior color palette, and professionally designed drought-tolerant… Read More landscaping. The unit mix includes six 1-bedroom/1-bath units, one 1-bedroom unit with bonus room, and one 2-bedroom unit. Three units are intentionally vacant at close of escrow, offering an owner-user or investor meaningful flexibility for renovation, lease-up, or other permitted business-plan strategies. All units feature hardwood floors, plaster walls, and plaster ceilings. Four units have modernized kitchens. Renovated units have achieved rents up to $2,350 per month, indicating potential continued rental upside as additional units become available and are improved, subject to applicable rent-control laws and regulations. Recent capital improvements include a substantial electrical-system upgrade from 200 amps to 400 amps, including replacement of tenant-unit electrical panels and the house-service panel. The property is separately metered for gas and electricity. Excellent transit and neighborhood access: Walk Score 93, Transit Score 71, and Bike Score 72. Conveniently positioned near restaurants, shopping, neighborhood services, and major Hollywood/East Hollywood employment and entertainment destinations. Read Less
Listing Snapshot
Days Online
38
Last Updated
Beds
8
3/4 Baths
8
Square Ft.
7,691
Lot Size
0.16 Acres
Year Built
1926
MLS Number
26874023
Additional Details
Building
Built in 1926, Living area: 7691.0, 1 building, Levels: MultiSplit
Cooling
None
Disclosures
PrincipalIsRealEstateLicensed
Income
Gross Income: $192,168, Net Operating Income: $136,814
Lot
0.155 acres
Parking
None
Taxes
Parcel Number: 5540022012, 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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