UPDATED:
10/14/2024 05:09 PM
Key Details
Property Type Condo
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
Square Footage 5,894 sqft
Price per Sqft $288
MLS Listing ID GD24165152
Construction Status Updated/Remodeled,Turnkey
HOA Y/N No
Year Built 1953
Lot Size 0.438 Acres
Acres 0.4377
Property Description
Key Features:
Remodeled Units: 6 of the 8 units have been thoughtfully modernized with new windows, kitchens, bathrooms, separate laundry connections, flooring, and fresh paint.
Strong Income: The property currently generates an annual income of $161,088, demonstrating its income-generating potential.
Prime Location: Conveniently located near LAX, popular beach communities, major freeways (105 and 110), and SoFi Stadium, the property enjoys high visibility and accessibility.
Ample Parking: Residents will appreciate the abundance of parking options, with 8 garage spaces and 7 outdoor spaces available.
Expansion Potential: The property is currently in the process of obtaining entitlement for 1 ADU, offering the opportunity to increase rental income and property value.
Why This is a Great Investment:
This property combines a desirable location with strong existing income and potential for future growth. The remodeled units are likely to attract quality tenants and command higher rents, while the ADU entitlement offers a clear path to increasing the property's overall value. The large lot size also provides flexibility for future development or expansion, further enhancing its investment appeal. With its prime location, attractive features, and income potential, this 8-unit garden style apartment building is an excellent investment opportunity for those seeking both immediate returns and long-term value.
Location
State CA
County Los Angeles
Area C36 - Metropolitan Southwest
Zoning LCR2*
Rooms
Ensuite Laundry Washer Hookup, Gas Dryer Hookup
Interior
Laundry Location Washer Hookup,Gas Dryer Hookup
Heating Ductless
Cooling Ductless
Flooring Laminate, Vinyl
Fireplaces Type None
Fireplace No
Laundry Washer Hookup, Gas Dryer Hookup
Exterior
Garage Garage
Garage Spaces 8.0
Garage Description 8.0
Pool None
Community Features Suburban, Sidewalks
Parking Type Garage
Total Parking Spaces 15
Private Pool No
Building
Lot Description 0-1 Unit/Acre
Story 1
Foundation Raised
Sewer Public Sewer
Water Public
Architectural Style Bungalow
New Construction No
Construction Status Updated/Remodeled,Turnkey
Others
Senior Community No
Tax ID 6059019035
Security Features Carbon Monoxide Detector(s),Security Gate,Smoke Detector(s)
Acceptable Financing Cash, Cash to New Loan, Conventional
Listing Terms Cash, Cash to New Loan, Conventional
Special Listing Condition Standard
