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$3,995,000
Est. payment /mo
10 Beds
15 Baths
6,709 SqFt
UPDATED:
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 6,709 sqft
Price per Sqft $595
MLS Listing ID 25547103
Bedrooms 10
HOA Y/N No
Year Built 1923
Lot Size 10,558 Sqft
Property Description
Price Reduction! Existing 15-unit building with 12 Gut-Renovated & Brand New Units cash flowing at an amazing 6.6% Cap Rate and 11 GRM from day 1. The units have been completely remodeled from the studs with permits and boast a high-end aesthetic with new modern cabinets, flooring, lighting, new bathrooms, as well as major exterior capital improvements. On top of that, the major systems have been updated including brand new roofs, electrical, plumbing, HVAC, etc. and even a brand-new fire sprinkler system for all the units that will save you tons of money on insurance costs in California! Amazing upside to 9.6% Cap Rate & 8 GRM on the proforma. Additionally, there are preliminary plans to convert the 2 existing brand-new detached ADUs into 6 detached ADUs (4 additional) to improve the numbers even further. Excellent up and coming location minutes from Banc of California Stadium, USC, & Inglewood. Each unit is individually metered for gas and electricity, ensuring convenience and efficiency. Large ~10,554 SF TOC Tier 3 lot zoned C2 with future redevelopment potential.
Location
State CA
County Los Angeles
Area C42 - Downtown L.A.
Zoning LAC2
Interior
Interior Features Ceiling Fan(s)
Heating Electric
Fireplace No
Appliance Microwave, Refrigerator
Exterior
Parking Features None
Building
Story 1
Entry Level One
Architectural Style Bungalow
Level or Stories One
New Construction No
Others
Senior Community No
Tax ID 6004031040
Special Listing Condition Standard
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Listed by Armin Soleimani Global Platinum Properties, Inc.
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Sean McGalis
Realtor & Avid Golfer | License ID: 01707801
Realtor & Avid Golfer License ID: 01707801