For sale 4 Units in Los Angeles, Ca. For more information , please contact the listing agent, Casey Picard 626-376-9224

Posted: 08/14/2020 6:07 am | On HOMEiZ: 1353 days | Updated: 3 years ago | Views: 517

Location Map

Property Type

Property status

Sold

Property Price

Asking Price

$1035000

Last Sold Price

$1035000

Last Sold Date

08/13/2020

Total Lot Size

6,683.00 Sq. Ft.

Asking Price per Sq. Ft.

$307

Total Building Size Sq. Ft.

3372

Commission Split %

Contact Listing Agent%

Cap Rate %

No Data%

Gross Annual Income

$126600

Net Operating Income

Gross Rent Multiplier

8.00

Operating Expenses

$24968

Annual Property Tax Rate for this property

1.25%

Property tax total amount

$12938

Property Location & Description

Listing Headline

For sale 4 Units in Los Angeles, Ca. For more information , please contact the listing agent, Casey Picard 626-376-9224

Rent control

Non Rent Control

Property Description

Fully vacant quadraplex offers a true COVID-19 hedge with "ready-to-issue" plans for a legal ADU. The asset offers an amazing unit mix with (4) - 2 Bed / 1 Bath and RTI plans for a (1) - 3 Bed / 2 Bath ADU. This asset offers huge cash flows for a potential Buyer with an all-in cap rate of 8.91% inclusive of a capital expenditure allowance of $130,000. By capturing Section 8 rents, a potential Buyer will have the opportunity to cash-flow over 11.75%.

Location Description

Located on West 47th Street in Los Angeles, California.

No. of Units

Price per Unit

$258750

Units Mix

No.

Description

No. Units

Sq. Ft.

Avg. Mo. Rent

2+1

3+2

Zoning

No Data

Occupancy %

Vacant

Yes

Construction Type

Wood & Stucco

No. Stories

Year Built

1913

Overall Property Condition

Good

Highlights

Fully vacant Quadraplex with RTI plans for legal fifth unit with ADU

Utilize residential financing with a legal five unit (Buyer to verify)

Amazing value-add opportunity with a post renovation 8.91% cap rate using comparable max Section 8 rents in the area

Great Unit mix of (4) - 2 Bed / 1 Bath & (1) - 3 Bed / 2 Bath ADU

Three separate structures on one lot

Property Information

Sewer

Type of Sewer

Sewer System (Public)

Parking

Parking type

On-street

Investment Overview

Type of use

Investor

Energy Efficiency

Energy Star Certified

How old is you cooling and heating system?

No Data

Efficiency rating

N/A

R-value

N/A

Windows single-pane?

Natural daylight

Appliances energy efficient

Roof

Neighborhood lifestyle

Lifestyle

Urban Core

More information

MLS URL of this listing to link to your own site or brokerage site

820002394

Listing Info

Listing ID: 2390

Sold

For Sale

$1,035,000

Listing Presented by

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961 West 47th Street . South Los Angeles , CA 90037