Commercial For Sale | Multifamily | Apartment building / Low Rise / Garden Style / 1-3 stories high
5229 Alhambra Avenue . Northeast Los Angeles , CA 90032
$100,000 price cut .1989 built .Non-Rent Control 5-Units! REAL 6% CAP IN LA! All units are individually metered for gas and the property has 10 tandem parking spaces in the back. In addition, there are preliminary plans to add 2 detached ADUs in the back for future upside.For more information contact the listing agents julio ruiz ziuroiluj@gmail.com (818) 524-0706 Armin Soleimani Email: arminsoleimani@gmail.com Phone: 310 666-2246
Posted: 01/24/2023 2:17 pm
| On HOMEiZ: 468 days |
Updated: 8 months ago
| Views: 596
Location Map
Property Type
Sold
Property Price
$1670000
$1670000
05/12/2023
0.11
Acres
$477
3500
Contact listing agent%
6%
$0
$100200
12.40
1.25%
$20875
Property Location & Description
$100,000 price cut .1989 built .Non-Rent Control 5-Units! REAL 6% CAP IN LA! All units are individually metered for gas and the property has 10 tandem parking spaces in the back. In addition, there are preliminary plans to add 2 detached ADUs in the back for future upside.For more information contact the listing agents julio ruiz ziuroiluj@gmail.com (818) 524-0706 Armin Soleimani Email: arminsoleimani@gmail.com Phone: 310 666-2246
Non Rent Control
5-unit opportunity with 4 fully renovated vacancies in prime El Sereno. The property is ready to cash flow at an amazing Current Cap Rate of 6% and 12.4 GRM. Excellent unit mix of all spacious 2 bedroom, 1 bath units with 2 parking spaces for each unit. There's an additional upside to a 6.8% Cap Rate and 11.1 GRM on proforma. The property was built in 1989 and is not subject to LA City Rent control, therefore allowing for 10% annual increases (5% + CPI). The property was meticulously renovated in 2022 featuring exterior upgrades, new cabinets, flooring, lighting, bathrooms, stainless steel appliances, and a washer/dryer in the unit.
Located in the El Sereno neighborhood of Los Angeles which is centrally located to downtown LA, Cal State LA University, and neighboring Alhambra and Pasadena.
5
$334000
No.
Description
No. Units
Sq. Ft.
Avg. Mo. Rent
1.
2+1
5
2.
3.
4.
5.
5217-020-033
C2
100%
Wood & Stucco
3
1989
Very good
Newer Built 5-Unit Building in El Sereno Not subject to LA City Rent Control
Excellent Unit Mix of All Large 2 Bedroom 1 Bathroom Units
Built in 1989 and fully renovated in 2022 allowing for 10%annual increases (5% + CPI)
Incredible Current Cap Rate of 6% and 12.4 GRM with upside to 6.8% Cap Rate and 11.1 GRM on the Proforma
Individually metered for Gas & Electricity. Minutes away from Pasadena & DTLA.
10 Tandem Parking spaces in the back (2 parking spots per unit). Preliminary plans to add 2 detached ADUs in the back.
Property Information
Sewer
Sewer System (Public)
Parking
Off-street
On-street
Assigned Parking
10
Investment Overview
Investor
Energy Efficiency
No
No Data
N/A
N/A
No
No
No
No
Neighborhood lifestyle
Urban Core
More information
Listing Presented by
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