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$1,598,800
Est. payment /mo
5,802 Sqft Lot
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Quadruplex
Listing Status Active
Purchase Type For Sale
MLS Listing ID WS25111731
HOA Y/N No
Year Built 1923
Lot Size 5,802 Sqft
Property Sub-Type Quadruplex
Property Description
Introducing a prime investment opportunity in the heart of Los Angeles. This charming 4,188 SF building, boasting 4 units, seamlessly blends historic allure with modern upgrades following its 2019 renovation. Two of the four units were extensively upgraded as part of the recent renovation. This property ensures a strong rental demand with a 100% occupancy, an excellent unit mix of all three bedrooms, and over 25% upside potential in rental income.
Over $200k was spent on capital improvements by previous ownership, which include electrical/plumbing upgrades, foundation retrofitting, new sewer line, and interior remodel of Units 2008 and 2008.5. Part of the scope of work for the 2018/2019 interior remodel was the addition of a bathroom to each of these two units, which increased the achievable market rents.
The value-add in the property lies in an investor's ability to remodel the two remaining units with similar interior upgrades/bathroom additions and increasing market rents for those units as well. There is also potential value-add by constructing multiple ADUs (buyer to verify). The long-term value is in the property's ideal location in the revitalizing Mid-City/West Adams area between the Pacific Ocean and Downtown Los Angeles providing the prospect of solid long-term appreciation and tenant demand.
Over $200k was spent on capital improvements by previous ownership, which include electrical/plumbing upgrades, foundation retrofitting, new sewer line, and interior remodel of Units 2008 and 2008.5. Part of the scope of work for the 2018/2019 interior remodel was the addition of a bathroom to each of these two units, which increased the achievable market rents.
The value-add in the property lies in an investor's ability to remodel the two remaining units with similar interior upgrades/bathroom additions and increasing market rents for those units as well. There is also potential value-add by constructing multiple ADUs (buyer to verify). The long-term value is in the property's ideal location in the revitalizing Mid-City/West Adams area between the Pacific Ocean and Downtown Los Angeles providing the prospect of solid long-term appreciation and tenant demand.
Location
State CA
County Los Angeles
Area C16 - Mid Los Angeles
Zoning LARD2
Interior
Fireplace No
Laundry Washer Hookup, Inside, Stacked
Exterior
Parking Features Assigned
Pool None
Community Features Sidewalks, Urban
Total Parking Spaces 6
Private Pool No
Building
Lot Description Rectangular Lot
Story 2
Sewer Public Sewer
Water Public
New Construction No
Others
Senior Community No
Tax ID 5061016032
Acceptable Financing Cash, Cash to New Loan, Conventional
Listing Terms Cash, Cash to New Loan, Conventional
Special Listing Condition Standard
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Listed by LEONIE TRAN eXp Realty of California Inc 626-349-0585