Property listed by Keller Williams World Media Center, Walner Hernandez 310-628-7008
$1,200,000
Investment opportunity in Arlington Heights! This charming Craftsman-style fourplex is located in the heart of Mid-City Los Angeles, one of the city’s most central and high-demand neighborhoods. The property consists of two detached buildings on a 5,963 sqft RD1.5 lot with 2,973 sqft of living space. The front building features… Read More two spacious units, one with 2 bedrooms and 1 bath, and the other with 1 bedroom and 1 bath. Both units offer excellent potential to be remodeled and converted into 3-bedroom, 1-bath apartments to maximize rental income. One unit is currently vacant and will be delivered vacant at the close of escrow. The rear building includes a two well-sized 1-bedroom, 1-bath units. Each apartment includes a covered garage space. This is a prime value-add opportunity with multiple exit strategies. The property qualifies for FHA financing, allowing owner-occupants or investors to take advantage of favorable terms. With strong rental demand, long-term appreciation, and development potential, this asset offers tremendous upside. Ideally situated near USC, Koreatown, Downtown LA, and the Westside, this property combines classic character, convenience, and investment potential. A rare find in a sought-after neighborhood, perfect for investors or developers looking for their next project. Read Less
Built in 1905, Building area total: 2,973, 2 buildings, Architectural style: Craftsman, Attached, Common walls: TwoCommonWallsOrMore, Construction materials: WoodSiding
Community
StreetLights
Cooling
None
Expenses
Insurance expense: $3,000, Licenses expense: $274, Maintenance expense: $1,500, New taxes expense: $15,000, Operating expense: $23,870, Water sewer expense: $3,600
Fence
Vinyl
Fireplaces
None
Floors
SeeRemarks
Garage
4 spaces
Heating
WallFurnace
Income
Gross income: $81,477, Net operating income: $57,607
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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