100% Vacant 9 Units + 2 ADUs in Prime Mid City. For more information contcat the listing agent, ziuroiluj@gmail.com 310 666-2246 Listed by Armin Soleimani •DRE #01846872 • Global Platinum Properties, Inc. Listed by Julio Ruiz •DRE #01911261 • Global Platinum Properties, Inc.

Posted: 02/01/2021 2:34 pm | On HOMEiZ: 1173 days | Updated: 2 years ago | Views: 1218 | Saved to favorites: 1

Location Map

Property Type

Property status

Sold

Property Price

Asking Price

$3500000

Last Sold Price

$3500000

Last Sold Date

12/29/2021

Total Lot Size

6,849.00 Sq. Ft.

Asking Price per Sq. Ft.

$506

Total Building Size Sq. Ft.

6914

Commission Split %

Contact listing agent%

Cap Rate %

7.0%

Gross Annual Income

Net Operating Income

$245000

Gross Rent Multiplier

11.00

Annual Property Tax Rate for this property

1.25%

Property tax total amount

$43750

Property Location & Description

Listing Headline

100% Vacant 9 Units + 2 ADUs in Prime Mid City. For more information contcat the listing agent, ziuroiluj@gmail.com 310 666-2246 Listed by Armin Soleimani •DRE #01846872 • Global Platinum Properties, Inc. Listed by Julio Ruiz •DRE #01911261 • Global Platinum Properties, Inc.

Rent control

Rent Control

Property Description

Once in a lifetime 100% Vacant 9 Units + 2 Potential ADUs in Prime Mid City priced at only 363k/door for vacant units. Value add opportunity with a huge upside to 7% Cap Rate and 11.1 GRM after renovations. Excellent location minutes from Beverly Hills, Culver City, and West Adams. Potential to create 2 attached 400 SF 1 Bed 1 Bath ADUs in the front carport and reduce soft-story cost. Individually metered for Gas & Electricity.

Location Description

Excellent location minutes from Beverly Hills, Culver City, and West Adams.

No. of Units

Price per Unit

$318182

Units Mix

No.

Description

No. Units

Sq. Ft.

Avg. Mo. Rent

1+1

$2123

2+1

$2995

3+2

$3495

APN / Parcel ID

5070-012-048

Zoning

LARD1.5

Occupancy %

Vacant

Yes

Construction Type

Wood & Stucco

No. Stories

Year Built

1963

Overall Property Condition

Fair

Highlights

Value add opportunity with a huge upside to 7.2% Cap Rate and 10.8 GRM after renovations

Excellent location minutes from Beverly Hills, Culver City, and West Adams

Potential to create 2 detached 1,200 SF 3 Bed 3 Bath ADUs & 2 attached 400 SF 1 Bed 1 Bath ADUs

Individually metered for Gas & Electricity

Property Information

Amenities

Gated entry

Sewer

Type of Sewer

Sewer System (Public)

Parking

Parking type

Off-street

On-street

Assigned Parking

# of Covered Parkings

No Data

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?

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

http://www.globalmajorproperties.com/author/armin/

Listing Info

Listing ID: 2582

Sold

For Sale

$3,500,000

Listing Presented by

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1445 South Cloverdale Avenue . Mid City , CA 90019