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$1,290,000
Est. payment /mo
7 Beds
6 Baths
2,838 SqFt
UPDATED:
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 2,838 sqft
Price per Sqft $454
MLS Listing ID 25572721
Bedrooms 7
HOA Y/N No
Year Built 1924
Lot Size 6,316 Sqft
Property Description
6-unit value-add building with 12 parking spaces cash flowing at a 5% Cap Rate from day 1 with upside to a 9.7% Cap on Proforma! Preliminary plans to add 6 detached ADUs to achieve an incredible 11.7% Current Cap Rate, 14.8% Proforma Cap, and only 163k/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!
Location
State CA
County Los Angeles
Area C42 - Downtown L.A.
Zoning LARD1.5
Interior
Heating Wall Furnace
Fireplace No
Exterior
Parking Features Gated
Total Parking Spaces 9
Building
Story 2
Entry Level One
Level or Stories One
New Construction No
Others
Senior Community No
Tax ID 5118009019
Special Listing Condition Standard
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Listed by Julio Ruiz Global Platinum Properties, Inc.