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GREAT INVESTMENT OPPORTUNITY! Property with a lot of potential. Rental income will pay itself off. First time on market since 40 years ago.This income property is located at less than a mile from LAC+USC Medical Center and only 10 minutes form Downtown LA and Chinatown. This neighborhood has gone through gentrification; completely surrounded by newly constructed houses and income units.Great family neighborhood near schools, churches and freeway access with high demand from renters. Near bus stops.CAP RATE 5.15 %This income property consists of 6 units, of which two units are facing the street and one of them has 3 bedrooms and 1 bath, perfect for a big family. There is a small house in the immediate back that is rented as a one bedroom/one bath apartment with adjacent storage shed plus 3 back units with 3 one car garages in the very rear.This property has a new roof, new plumbing, and the two front units have been remodeled 4 years ago and freshly painted last year. This is a 1031 Exchange.
Last Updated | 6/9/2024 | Year Built | 1887 |
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Community | Lincoln Hts | Garage Spaces | 3.0 |
County | Los Angeles |
Additional Details
AIR | Wall/Window Unit(s) |
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AIR CONDITIONING | Yes |
APPLIANCES | Gas Water Heater |
AREA | Lincoln Hts |
BUYER'S BROKERAGE COMPENSATION | |
CONSTRUCTION | Drywall |
GARAGE | Assigned, Yes |
HEAT | Natural Gas |
HOA DUES | 0 |
LOT | 7501 sq ft |
LOT DESCRIPTION | 0-1 Unit/Acre, Rectangular Lot |
PARKING | Assigned |
POOL DESCRIPTION | None |
SEWER | Public Sewer |
STORIES | 2 |
STYLE | Traditional |
UTILITIES | Cable Connected,Electricity Connected,Natural Gas Connected, Electric: Standard |
VIEW DESCRIPTION | None |
WATER | Public |
ZONING | LAR3 |
Location
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