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Location! Location! Location! This six-unit building, located at 7851 W Talbert Street in the beautiful beachside community of Playa del Rey, represents a prime investment opportunity and a true trophy property. The property consists of a large unit mix, including one 2-bedroom/2-bathroom unit, two 2-bedroom/1.5-bathroom unit, and three 1-bedroom/1-bathroom units. The building offers a total of 4,937 square feet of living space situated on a 4,849 square foot lot. Built in 1960, this well-maintained property is listed at $2,500,000, equating to $416,667 per unit and $506 per rentable square foot. The property currently generates $15,055 per month and $180,659 per year in rental income, with a potential increase to $18,940 per month and $227,280 per year at market rent levels, reflecting a significant 26% rental upside potential. All tenants are currently on MTM leases with the exception of unit #3 who plans to vacate the property in the coming months and unit #4 which is also vacant. The property's exterior and walkways were recently pressure washed. The owner hired a professional painting company to paint the entire exterior, including trim, handrails, and all 6 garages. The roof was completely recoated with two coats of silicone that is warrantied up to 10 years. All these improvements have successfully revamped this gem into a beautiful, modern looking and easy to maintain property for the new owners. Rent will be raised on February 1st, 2025. Give us a call to discuss ADU potential. There is garage space for at least one if not two ADUs.
Property Type(s):
Residential Income
| Last Updated | 1/30/2025 | Year Built | 1960 |
|---|---|---|---|
| Community | Playa Del Rey | County | Los Angeles |
Price History
| Prior to Oct 7, '24 | $2,600,000 |
|---|---|
| Oct 7, '24 - Oct 29, '24 | $2,550,000 |
| Oct 29, '24 - Today | $2,500,000 |
Additional Details
| AIR | None |
|---|---|
| AREA | Playa Del Rey |
| GARAGE | Assigned, Driveway Down Slope From Street, Paved, Yes |
| HEAT | None |
| LOT | 4864 sq ft |
| PARKING | Assigned,Driveway Down Slope From Street,Paved |
| STORIES | 2 |
| ZONING | LAR3 |
Location
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Listed with Lyon Stahl Investment Real Estate, Inc.
The information being provided by Conejo Simi Moorpark Association of REALTORS® (“CSMAR”) is for the visitor's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. Any information relating to a property referenced on this web site comes from the Internet Data Exchange (“IDX”) program of CSMAR. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. Any information relating to a property, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. The data contained herein is copyrighted by CSMAR and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.
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