Property listed by Resource Real Estate Services, Paul Luc 323-229-0398
$2,288,000
First time on the market in a generation, this 9-unit non-RSO apartment building is a rare find with huge upside with super low rents. Built in 1988, the property offers a great mix of units: 1 three-bedroom/two-bath, 4 two-bedroom/two-bath, and 4 one-bedroom/one-bath. The attractive layouts and size of all units… Read More make it especially appealing to tenants. The property is conveniently located near everything—buses, Metro lines, markets, schools, and hospitals. Most of the units have updated kitchens with granite countertops, and all are separately metered for gas and electricity. Under an astute owner there is tremendous upside in rent and appreciation. This is a solid opportunity to add a clean, low-maintenance, and well-located building to your portfolio. Please do not disturb tenants. Drive by only. Showings available with accepted offer. Read Less
Listing Snapshot
Days Online
22
Last Updated
Property Type
Apartment
Lot Size
0.18 Acres
Year Built
1988
MLS Number
AR25179186
30 Days Snapshot Of 90031
$1.02M
-18%
(avg) sold price
5
-37%
homes sold
81
-1%
(avg) days on market
Snapshot
Area Map
Additional Details
Building
Built in 1988, Building area total: 7,654, Levels: Two, 2 stories, 1 building, Common walls: NoCommonWalls
Community
Urban
Expenses
Electric expense: $2,000, Fuel expense: $200, Insurance expense: $4,000, Operating expense: $50,000, Trash expense: $950, Water sewer expense: $1,500
Garage
9 spaces
Income
Gross income: $164,000, Net operating income: $115,000
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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