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3 of 4 units are vacant. For Buyers looking at insurance related investments. All units are completely remodeled. Parking. Bungalow style 2 bed 2 bath units. One unit is a 1 bed 1 bath. The very large garage in the back is a 3 bedroom ADU potential. The new rent potential is $3700/mo for 2 bed units and $2100/mo for the one bedroom unit. The gross income potential is $158,400/yr or $13,200/mo. The projected net income is approx $127,212/yr. The cap is 6.52 and GRM is 12.3. The building is 2 short blocks from USC, the Expo/Vermont Metro Station, and the all new Lucas Museum of Narrative Art at Exposition Park opening this year. The museum is on 11 acres with 100,000 SF of restaurants, retail, and two state-of-the-art theaters. Look it up! These are 3 additional points of attraction for an investor. The building is bungalow style completely remodeled with new kitchens, bathrooms, flooring, central air & heat, in unit security systems, concrete, and more. Washer/Dryer inside each unit. There's a security gate in the front & the perimeter is fenced. The complex is well lighted for safety. USC students are an additional high income stream.
Property Type(s):
Residential Income
| Last Updated | 1/20/2025 | Year Built | 1931 |
|---|---|---|---|
| Community | Los Angeles Southwest | County | Los Angeles |
Price History
| Prior to Jan 20, '25 | $1,949,000 |
|---|---|
| Jan 20, '25 - Today | $1,948,900 |
Additional Details
| APPLIANCES | Dishwasher, Disposal, Dryer, Microwave, Refrigerator, Washer |
|---|---|
| AREA | Los Angeles Southwest |
| HEAT | Central |
| LOT | 6660 sq ft |
| STORIES | 1 |
| ZONING | LARD1.5 |
Location
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Listed with Keller Williams Realty Downey
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