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$2,995,000
Est. payment /mo
11 Beds
8 Baths
4,444 SqFt
UPDATED:
Key Details
Property Type Residential Income
Listing Status Active
Purchase Type For Sale
Square Footage 4,444 sqft
Price per Sqft $673
MLS Listing ID 25543895
Bedrooms 11
HOA Y/N No
Year Built 1953
Lot Size 7,087 Sqft
Property Description
Once in a lifetime 100% Fully Renovated & 100% Fully Occupied 7-unit apartment building with permits cash flowing at an amazing 6% Cap Rate and 12.1 GRM from day 1. Preliminary plans to add 6 detached ADUs to achieve a remarkable 9% Cap Rate and 8.6 GRM after taking into account all constructions costs (~566k assuming $250/SF). All 7 units have been completely remodeled from the studs with permits and boast a high-end aesthetic with new modern cabinets, flooring, lighting, new bathrooms, HVAC systems as well as major exterior capital improvements. Diverse unit mix of 4 (1bed/1bath) units, 2 (2bed/1bath) units, and 1 spacious brand-new (3bed/2bath) unit. Additionally, the major systems have been updated including electrical, plumbing, windows, etc. Individually Metered for Gas & Electricity. Large 7,084 SF R3-1 Lot TOC Tier 2 with future development potential. Excellent Westlake location just steps away from the trendy Echo Park, FilipinoTown, DTLA, and Koreatown.
Location
State CA
County Los Angeles
Area C42 - Downtown L.A.
Zoning LAR3
Interior
Heating Central
Cooling Central Air
Flooring Laminate
Fireplace No
Exterior
View Y/N Yes
View City Lights
Total Parking Spaces 3
Building
Faces West
Story 2
Entry Level Multi/Split
Architectural Style Contemporary
Level or Stories Multi/Split
New Construction No
Others
Senior Community No
Tax ID 5153026006
Special Listing Condition Standard
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Listed by Alex 'Zan' Sacker Keller Williams Los Angeles
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Edan Amar Team Account
Broker Associate | License ID: 01856096
Broker Associate License ID: 01856096