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Matt O'Brien

matt@homecrave.com +1(619) 302-3010

$ 3,995,000

Est. payment | -/mo

20 Baths

7,700 SqFt

Save

$ 3,995,000

Est. payment | -/mo

Save

20 Baths

7,700 SqFt

Key Details

Property Type Single Family Home

Listing Status Active

Purchase Type For Sale

Square Footage 7,700 sqft

Price per Sqft $518

MLS Listing ID 26858143

HOA Y/N No

Year Built 1922

Lot Size 5,414 Sqft

Property Description

Huge 500k Price Reduction! Renovated 20-unit apartment building cash flowing at an amazing Current 9% Cap Rate from day 1! Fully Approved RTI plans to add 4 attached ADUs to achieve a remarkable 11.3% Cap Rate after taking into account all constructions costs (~322k assuming $350/SF). The property features 20 Spacious and easy to rent studios each with their own separate kitchen and bathrooms. Almost every single unit (95%) has been upgraded with updated cabinets, flooring, kitchens, bathrooms, as well as exterior improvements including renovated hallways. The property also offers an on-site laundry room, which could be re-opened to generate additional income. Located in the heart of Westlake, just steps away from trendy Echo Park, FilipinoTown, DTLA, and Koreatown. Highly walkable area surrounded by shops, restaurants, and major transit lines, the property combines steady cash flow with exceptional long-term upside in a prime urban corridor.

Location

State CA

County Los Angeles

Area C42 - Downtown L.A.

Zoning LACW

Interior

Heating Wall Furnace

Fireplace No

Exterior

Parking Features None

Building

Story 2

Entry Level Two

Level or Stories Two

New Construction No

Others

Senior Community No

Tax ID 5152003013

Special Listing Condition Standard

CRMLS Full IDX Feed (MAIN Website Search)

Listed by Julio Ruiz Global Platinum Properties, Inc. #01911261

NEARBY SCHOOL & BUSINESS

+1(619) 302-3010

matt@homecrave.com

San Diego, CA 92124

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1344 W 4th ST Los Angeles, CA 90017