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Diego Magdaleno

diego@1visionproperties.com +1(714) 676-7271

$2,795,000

Est. payment - /mo

11 Beds

8 Baths

4,444 SqFt

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Key Details

Property Type Single Family Home

Listing Status Active

Purchase Type For Sale

Square Footage 4,444 sqft

Price per Sqft $628

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 6.5% Cap Rate from day 1! Fully Approved RTI plans to add 6 detached ADUs to achieve a remarkable 9.6% Cap Rate and 8.1 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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318 Columbia AVE Los Angeles, CA 90017