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Listed by Anthony Walker • Buckingham Investments, Inc
$1,795,000
Est. payment /mo
8,065 Sqft Lot
UPDATED:
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID CRSB25043892
Year Built 1960
Lot Size 8,065 Sqft
Source California Regional MLS
Property Description
Huge 6 unit property on a large lot in the heart of Mid-City LA, close to everything that LA has to offer, yet on a quiet residential street. The building has an excellent mix consisting of four 2 bedroom units, one 1 bedroom unit, and an enormous 4 bed, 2.5 bath two story owner's unit with a private patio. There are over 6400 square feet of rentable space on an 8000 square foot lot with parking for 6 cars in the rear plus a single car garage and one space in the front. The property is well priced on actual rents at 11.3X GRM plus a healthy 25% upside to income for a market GRM of 9.1X and a 6.8% cap rate. The building was built in 1960 with recent improvements including exterior paint, a commercial water heater, with new floors and windows in the owner's unit. There are also additional upgrades to finishes, appliances, and windows in select units. The LA required soft story retrofit has been completed, and there is a laundry room on the premises for additional income. The units are all separately metered for gas and electric and there is an opportunity to decrease expenses through implementation of RUBS program for water, sewer, and trash. Tenants enjoy close proximity to a huge variety of entertainment and restaurants in some of the city's hottest neighborhoods includ
Location
State CA
County Los Angeles
Area C16 - Mid Los Angeles
Rooms
Kitchen Oven Range - Gas
Interior
Heating Forced Air, Wall Furnace
Cooling None
Flooring Laminate
Laundry Laundry Area
Exterior
Parking Features Carport , Garage
Garage Spaces 8.0
Pool 31, None
View None
Roof Type Shingle
Building
Foundation Concrete Slab
Water District - Public
Others
Tax ID 5073023021
Special Listing Condition Not Applicable
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