Thank you
Jonathan Rawson
Avenue Realty Group
310-310-8624
This 2-unit fully occupied investment property has beautiful architecture, charm, and curb appeal and is located on a safe street across from an elementary school. 5.25% cap rate on current rents at asking price, and a below market $290k per unit and $298 per RSF. Great combination of in-place cash flow, along with value-add / rental upside potential for a first-time investor. Great mix of a detached front 3 Bed/1 Bath house, and a 2 Bed/1 Bath unit in the back, and on-site parking for both units. Low operating expenses as both units pay for gas, electricity and trash, and each have their own in-unit water heaters. Located exactly 2 miles away from Exposition Park as tenants get to enjoy close proximity to BMO Stadium, LA Coliseum, the new $1B George Lucas Museum, California Science Center and Natural History Museum. Both units will be delivered occupied at closing -- no vacancies.
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Total Bedrooms : 5
Total Baths: 2
Full Baths: 0
Half Baths: 0
Interior Features: Ceiling Fan(s)
Wall Furnace
Has Heating
Year Built: 1895
Building Area Total: 1,940
Lot Dimensions Source: Vendor Enhanced
Lot Size Acres: 0.1515
Lot Size Source: Vendor Enhanced
Lot Size Square Feet: 6599
Original List Price: 580,000
Listing Contract Date: 2024-03-11
Listing Agreement: Exclusive Right To Sell
Parcel Number: 5108010033
Garage Description: Assigned
Lease Term: Negotiable
Tenant Pays: Electricity,Gas,Trash Collection
Source Listing Status: Active Under Contract
Source Neighborhood: C42 - Downtown L.A.
Postal Code Plus 4: 4013
Directions: South of Vernon, West of Central, East of San Pedro
Zoning: LAR2
Source Property Type: Residential Income
Area: C42 - Downtown L.A.
Property Age: 129
Common Walls: No Common Walls
Year Built Source: Vendor Enhanced
Total Square Feet Living: 1940
Levels or Stories: One
Building Total Stories: 1
Address | Estimate | Bed | Bath | Sq. Ft | Lot Size |
---|---|---|---|---|---|
Residential Income, Los Angeles, CA,90011 | $990,000 | 6 | -- | 2,302 | 4400 Sqft |
606 E 51st Street, Los Angeles, CA,90011 | $1,400,000 | 6 | -- | 2,870 | 9937 Sqft |
876 -876 1/2 E 41st Place, Los Angeles, CA,90011 | $739,900 | 6 | 3 | 2,112 | 6250 Sqft |
4725 Compton Avenue, Los Angeles, CA,90011 | $450,000 | 2 | 1 | 1,029 | 2731 Sqft |
128 E 54th Street, Los Angeles, CA,90011 | $795,000 | -- | -- | 4,186 | 5306 Sqft |
851 E 32nd Street, Los Angeles, CA,90011 | $688,000 | -- | -- | 2,400 | 5230 Sqft |
802 E. 25th Street, Los Angeles, CA,90011 | $799,000 | 5 | 1 | 2,026 | 163437120 Sqft |
2808 Maple Avenue, Los Angeles, CA,90011 | $650,000 | 2 | -- | 1,072 | 4800 Sqft |
209 E 31st Street, Los Angeles, CA,90011 | $675,000 | 2 | 1 | 1,028 | 6280 Sqft |
461 E 30th Street, Los Angeles, CA,90011 | $775,000 | -- | -- | 3,097 | 6244 Sqft |
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ByOwner last updated this listing 05/10/2024 @ 03:46
MLS: 24367197
LISTED BY: Jonathan Rawson, Avenue Realty Group
SOURCE: CRMLS
Buyer Agency Compensation: 2.5%
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.