Property listed by KW Westside Estates, Alex 'Zan' Sacker 310-482-2200
$2,195,000
Huge 800k Price Reduction! Once in a lifetime 100% Fully Renovated 7-unit apartment building with permits cash flowing at an amazing Current 8% Cap Rate from day 1! Fully Approved RTI plans to add 6 detached ADUs to achieve a remarkable 11.4% Cap Rate and 6.7 GRM after taking into… Read More account all constructions costs (~566k assuming $250/SF). All 7 units have been completely remodeled from the studs with permits and boast a high-end aesthetic with new modern cabinets, flooring, lighting, new bathrooms, HVAC systems as well as major exterior capital improvements. Diverse unit mix of 4 (1bed/1bath) units, 2 (2bed/1bath) units, and 1 spacious brand-new (3bed/2bath) unit. Additionally, the major systems have been updated including electrical, plumbing, windows, etc. Individually Metered for Gas & Electricity. Large 7,084 SF R3-1 Lot TOC Tier 2 with future development potential. Excellent Westlake location just steps away from the trendy Echo Park, FilipinoTown, DTLA, and Koreatown. Read Less
Listing Snapshot
Days Online
1
Last Updated
Beds
11
3/4 Baths
8
Square Ft.
4,444
Lot Size
0.16 Acres
Year Built
1953
MLS Number
26993155
Additional Details
Building
Built in 1953, Living area: 4444.0, 2 buildings, Building faces West, 2 stories, Levels: MultiSplit
Cooling
CentralAir
Floors
Laminate
Heating
Central
Income
Gross Income: $238,433, Net Operating Income: $175,584
Lot
0.1627 acres
Parking
3 total parking spaces
Property
CityLights
Taxes
Parcel Number: 5153026006, Zoning: LAR3
Tenant Pays
Electricity, Gas, TrashCollection, Water
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