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PRICE REDUCED 100K! We are pleased to present for sale the "Fraser Flats" a newly renovated & 100% fully leased multifamily opportunity located in the heart of East LA! The subject property consists of a front duplex with two 1 bd/1 ba units and 16 SRO style units (16 single rooms with 3 shared baths + 4 toilets for the community). The property was completed gutted by the current owner who spent over $400,000 in upgrades including brand new HVAC, new Roof, Plumbing, Electrical, Flooring, Paint, Furniture & more! This location offers residents a quick commute to Downtown Los Angeles and is a Walker's Paradise with a walk Score of 93! The property is only steps away from dining and shopping on Whittier Blvd with several public transportation options nearby. Current rents yield an impressive annual gross income of ~$200,000 yielding a GRM of just 9.5 and a phenomenal cap rate of 7.6%!! There is an additional 20% upside in rents. Each SRO unit is fully equipped with a queen-sized bed, full sized stainless-steel refrigerator and stainless-steel microwave. Shared space for showering and doing laundry all conveniently near your apartment home. Bathrooms are separate from your apartment home but are private and in the community. The front duplex is comprised of two 1 BD/1 BA units that are tenant occupied and under RSO. Do not miss this opportunity to purchase a cash cow located in a high rental demand neighborhood of Los Angeles! Do not disturb current tenants, showings with an accepted offer only. Contact listing agent for more details.
Property Type(s):
Residential Income
| Last Updated | 2/4/2025 | Year Built | 1929 |
|---|---|---|---|
| Community | East Los Angeles | County | Los Angeles |
Price History
| Prior to Feb 4, '25 | $1,999,000 |
|---|---|
| Feb 4, '25 - Today | $1,900,000 |
Additional Details
| AREA | East Los Angeles |
|---|---|
| GARAGE | Driveway |
| HEAT | Wall Furnace |
| LOT | 4921 sq ft |
| PARKING | Driveway |
| STORIES | 2 |
| ZONING | LCP* |
Location
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Listed with Keller Williams Beverly Hills
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