$770,000
$950,000
18.9%For more information regarding the value of a property, please contact us for a free consultation.
10,467 Sqft Lot
SOLD DATE : 01/08/2024
Key Details
Sold Price $770,000
Property Type Multi-Family
Sub Type Mixed Use
Listing Status Sold
Purchase Type For Sale
MLS Listing ID P1-13461
Sold Date 01/08/24
HOA Y/N No
Year Built 1924
Lot Size 10,467 Sqft
Property Description
Kalachian Investment Group is pleased to present this mixed-use property situated on a large corner lot in the heart of Los Angeles and featuring a retail unit alongside five residential units. All five residential units are currently occupied and three of them being rented through the Section 8 program. This presents a stable and reliable source of rental income for the new owner. The property has excellent upside rental potential, as the current rents are below market averages in the area. This provides an opportunity for the new owner to maximize their returns. The property is fully occupied and has a strong rental history, making it an attractive investment opportunity. The retail unit is an +/-810 SF beauty salon that is currently rented on a month-to-month basis. Property also has billboard income coming in due to its location.Built in 1924-1953, the building is +/-4,156 SF has a favorable unit mix of (2) Studios, (2) 3+1 (1) 3+1.5, situated on a +/-10,468 SF of total land. The property has a combined size of +/-4,966 SF building size, It is subject to Rent Stabilization Ordinance (RSO)
Location
State CA
County Los Angeles
Zoning [Q]R4-1
Interior
Cooling None
Fireplaces Type None
Fireplace No
Exterior
Parking Features One Space, Uncovered
Garage Spaces 9.0
Garage Description 9.0
Pool None
Community Features Sidewalks
View Y/N No
View None
Roof Type Flat,Shingle
Total Parking Spaces 9
Private Pool No
Building
Lot Description 6-10 Units/Acre, Sprinklers None
Story 2
Entry Level Two
Sewer Sewer Tap Paid
Water See Remarks
Architectural Style See Remarks
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 6063002034
Acceptable Financing Cash to New Loan
Listing Terms Cash to New Loan
Financing Private
Special Listing Condition Standard
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Bought with Melina Kalachian • Keller Williams Realty
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "