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$3,995,000
Est. payment /mo
6,709 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 6,709 sqft
Price per Sqft $595
MLS Listing ID CL25547103
HOA Y/N No
Year Built 1923
Lot Size 10,557 Sqft
Acres 0.24
Property Sub-Type Other
Property Description
Price Reduction! Existing 15-unit building with 12 Gut-Renovated & Brand New Units cash flowing at an amazing 6.6% Cap Rate and 11 GRM from day 1. The units have been completely remodeled from the studs with permits and boast a high-end aesthetic with new modern cabinets, flooring, lighting, new bathrooms, as well as major exterior capital improvements. On top of that, the major systems have been updated including brand new roofs, electrical, plumbing, HVAC, etc. and even a brand-new fire sprinkler system for all the units that will save you tons of money on insurance costs in California! Amazing upside to 9.6% Cap Rate & 8 GRM on the proforma. Additionally, there are preliminary plans to convert the 2 existing brand-new detached ADUs into 6 detached ADUs (4 additional) to improve the numbers even further. Excellent up and coming location minutes from Banc of California Stadium, USC, & Inglewood. Each unit is individually metered for gas and electricity, ensuring convenience and efficiency. Large ~10,554 SF TOC Tier 3 lot zoned C2 with future redevelopment potential.
Location
State CA
County Los Angeles
Zoning LAC2
Interior
Heating Electric
Fireplace No
Building
New Construction No
Others
Tax ID 6004031040
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Listed by Armin Soleimani • Global Platinum Properties, Inc.
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