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$ 1,125,000
Est. payment | /mo
2,838 SqFt
$ 1,125,000
Est. payment | /mo
2,838 SqFt
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 2,838 sqft
Price per Sqft $396
MLS Listing ID CL26783337
HOA Y/N No
Year Built 1924
Lot Size 6,315 Sqft
Acres 0.145
Property Sub-Type Other
Property Description
Huge ~200k Price Reduction! 6-unit value-add building with 12 parking spaces cash flowing at a 6% Cap Rate from day 1 with upside to an 11.3% Cap on Proforma! Fully Approved RTI plans to add 6 detached ADUs to achieve an incredible 12.9% Current Cap Rate, 16% Proforma Cap, and only 149k/unit after taking into account all the construction costs (~670k assuming $250/SF). 3 units have been renovated and boast updated cabinets, flooring, kitchen, bathrooms, exterior improvements, newer roof, new windows for all units, and more. Individually metered for gas, electricity, and tenants pay their own trash further minimizing the operating expenses. Prime location just minutes away from Downtown LA, USC, BMO Stadium, George Lucas' Billion Dollar Museum, and Exposition Park where 2028 Olympics will be held!
Location
State CA
County Los Angeles
Zoning LARD1.5
Interior
Heating Wall Furnace
Fireplace No
Building
New Construction No
Others
Tax ID 5118009019
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Listed by Julio Ruiz • Global Platinum Properties, Inc.
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