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$1,475,000
Est. payment /mo
6,981 Sqft Lot
UPDATED:
01/15/2025 11:28 PM
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID CRPW24235975
Originating Board California Regional MLS
Year Built 1954
Lot Size 6,981 Sqft
Property Description
Great cash flow property with huge upside too. 9.9% cash on cash return with current rents. 8.0% cap rate. Many upgrades over the years including, Newer roof on both buildings, Copper water pipes, Vinyl windows, new external stairs to top unit in the back building. Possible conversion of garages currently used for storage to ADU to make 7 or 8 units, check with city for allowances. Located in a strong rental area in South Central Area with a great unit mix of five 3 Bdrm and 1 Bath units. Walkable score of 83. Property is separate metered for Gas and Electric and consists of two buildings, a 4-plex up front and duplex along with a 4 car garage in the back. Front 4 units have been converted to 3 bedrooms but third bedroom can easily be used as a living room as well, Buyer to verify permits for all changes and improvements. Market rents shown are for Section 8 approved 2 bedroom units. Garages currently used for storage.
Location
State CA
County Los Angeles
Area 699 - Not Defined
Interior
Heating Wall Furnace
Cooling None
Laundry None
Exterior
Parking Features No Parking
Pool 31, None
Roof Type Flat / Low Pitch
Building
Story One Story
Water District - Public
Others
Tax ID 5115034011
Special Listing Condition Not Applicable
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Listed by Richard Bell • Bell Realty Group