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$4,195,000
Est. payment /mo
5,334 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 5,334 sqft
Price per Sqft $786
MLS Listing ID CL25519955
HOA Y/N No
Year Built 1950
Lot Size 9,005 Sqft
Acres 0.21
Property Sub-Type Other
Property Description
14 Renovated units cash flowing at an amazing current Cap Rate of 6% from day 1. Attractive 2.6M assumable loan at an incredibly low rate of 3.9% fixed through 09/01/2027. Preliminary plans to add 20 new units to achieve an unheard 11.5% Cap Rate, 6.8 GRM, and only 173k/unit after taking into account all the construction costs (~1.7M assuming $250/SF). The preliminary plans call for 8 detached ADUs in the back + 5 attached ADUs in the front + 7 new units in the front for a total of 20 new units. The 14 existing units have undergone many capital improvements including updated roof, electrical, plumbing, windows, interiors, exteriors, etc.
Location
State CA
County Los Angeles
Zoning LAC2
Interior
Heating Wall Furnace
Cooling None
Fireplace No
Building
New Construction No
Others
Tax ID 2537012024
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Listed by Armin Soleimani • Global Platinum Properties, Inc.