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$ 1,745,000
Est. payment | /mo
14 Beds
8 Baths
7,318 SqFt
$ 1,745,000
Est. payment | /mo
14 Beds
8 Baths
7,318 SqFt
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 7,318 sqft
Price per Sqft $238
MLS Listing ID 25500327
Bedrooms 14
HOA Y/N No
Year Built 1931
Lot Size 7,775 Sqft
Lot Dimensions Assessor
Property Description
This 8 unit value add opportunity is in the heart of the USC Secure zone and across the street from Richardson Family Park. It has explosive rental upside of over 80%. The Market cap rate at Pro-forma rents is over 10%. There is a very desirable unit mix of (6) 2BR/1BA, and (2) 1BR/1BA Units. The average unit size is 822 SF. One of the 2BR units will be delivered vacant. The property is on a 7,715 SF lot and includes (8) parking spaces. It is separately metered for gas & electric insuring low operating costs, and the electrical service panel was recently updated. The family has owned the property for over 38 years, and they are highly motivated to give up the ownership. Nearby amenities include the USC campus, BMO Stadium, Lucas Museum, Exposition Park and much more.
Location
State CA
County Los Angeles
Area C16 - Mid Los Angeles
Zoning LAR3
Interior
Heating Natural Gas
Cooling None
Fireplace No
Appliance Disposal
Laundry None
Exterior
Parking Features Assigned
Total Parking Spaces 8
Building
Story 2
Entry Level Two
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 5054015017
Special Listing Condition Standard
Listed by Keith Moret • Lyon Stahl Investment Real Estate, Inc.
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Justin Bonney
Broker, Realtor® | Lic# 01338897
15233 Ventura Boulevard Suite 500 Sherman Oaks, CA 91403