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Surin Poommai
Rise Realty
866-344-7473
Rare investment opportunity for investors. This property is on the market for the first time after 32 years of ownership. The well-maintained 9-unit 2-story apartment with low operation costs is situated conveniently near 405 Fwy, I-10, UCLA, and Santa Monica Beach. This apartment has two entrances from the front gate and back gate very easy to access the building. The first floor consists of 4 units, and the second floor has 5 units with separate gas and power meters for each unit. The property is on an easy-to-access street; each unit provides a 2-car parking garage with private storage to keep personal belongings, and a community laundry room on the first floor. Also, this property has an extra bathroom and storage room for the owner to use when on duty. The 9-unit apartment consists of 2 units with 2 beds and 2 baths for each unit, 7 units have 1 bed and 1 bath for each unit. On May 1, 2024 rent increased by 4%, the total gross income estimated per month is $18,425.00. Rent Income Per Year $221,100.00, + laundry income $ 2,700 per year. Total $ 223,800.00 a year. Yearly expenses: Estimated is approximately total of $ 38,865.00 a year. ( $ 1,440.00 for gas in laundry, $ 500 for Frontier internet Intercom front door,$240.00 internet for security camera, $ 4,500.00 for trash, $3,340.00 for water and power in laundry room, $ 19,257.00 property tax, $ 9,588.00 Insurance). Tenant pay their own gas and power, landlord pay water.
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Water Source : Public
Sewer : Public Sewer
Roof : Other
Interior Features: Block Walls,Storage,Unfurnished,Bedroom on Main Level
Property Appliances: Dishwasher,Electric Range,Gas Oven,Gas Range
Fireplace: None
Flooring: Carpet,Laminate,Tile
Wall/Window Unit(s)
Air Conditioning
Natural Gas,Wall Furnace
Has Heating
Fireplace Features: None
Has Fireplace: 0
Year Built: 1964
Building Area Total: 6,840
Roof: Other
Gated Community,Key Card Entry
None
None
Common Area,Electric Dryer Hookup,Gas Dryer Hookup
Block,Brick
Lot Dimensions Source: Vendor Enhanced
Lot Size Acres: 0.1579
Lot Size Source: Assessor
Lot Size Square Feet: 6878
Original List Price: 3,655,000
Listing Contract Date: 2023-10-13
Listing Agreement: Exclusive Right To Sell
Parcel Number: 4263005055
Garage Description: Assigned
Lease Term: Negotiable
Tenant Pays: Cable TV,Electricity,Gas
Source Listing Status: Active
Source Neighborhood: C06 - Brentwood
Postal Code Plus 4: 6641
Directions: 405 Fwy south exit Wilshire Blvd West and left on South Saltire Ave.
Zoning: LAR3
Source Property Type: Residential Income
Area: C06 - Brentwood
Property SubType: Apartment
Property Age: 60
Common Walls: No Common Walls
Structure Type: Apartment
Year Built Source: Assessor
Entry Level: 2
Entry Location: unknow
Levels or Stories: Two
Building Total Stories: 2
Address | Estimate | Bed | Bath | Sq. Ft | Lot Size |
---|---|---|---|---|---|
1930 S Beverly Glen Bou.., Los Angeles, CA,90025 | $1,000,007 | 2 | 3 | 1,527 | 17250 Sqft |
10935 Missouri Avenue #B, Los Angeles, CA,90025 | $2,195,000 | 4 | 3 | 3,413 | 6551 Sqft |
11750 Wilshire Boulevar.., Los Angeles, CA,90025 | $20,000 | 2 | 2 | 1,129 | 1351 Sqft |
1233 Barry Avenue #201, Los Angeles, CA,90025 | $2,650 | 2 | 1 | 900 | 13547 Sqft |
1826 S Bundy Drive, Los Angeles, CA,90025 | $4,600,000 | 16 | -- | 8,400 | 6103 Sqft |
10786 Missouri Avenue, Los Angeles, CA,90025 | $4,300,000 | -- | -- | 7,658 | 7430 Sqft |
1870 Kelton Avenue #101, Los Angeles, CA,90025 | $1,050,000 | 2 | 2 | 1,665 | 12972 Sqft |
1656 Sawtelle Boulevard, Los Angeles, CA,90025 | $3,995,000 | -- | -- | -- | 7005 Sqft |
1955 1/2 Purdue Avenue, Los Angeles, CA,90025 | $2,675,000 | 3 | 3 | 3,913 | -- |
1809 Overland Avenue #5, Los Angeles, CA,90025 | $1,075,000 | 2 | 2 | 1,569 | 5597 Sqft |
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ByOwner last updated this listing 05/06/2024 @ 04:25
MLS: SR23191846
LISTED BY: Surin Poommai, Rise Realty
SOURCE: CRMLS
Buyer Agency Compensation: 2%
Buyer Agency Description: The listing broker's offer of compensation is made only to participants of the MLS where the listing is filed and if applicable, to participants of reciprocating MLS's as set forth in Association/MLS reciprocal agreements.