$2,100,000
$2,169,000
3.2%For more information regarding the value of a property, please contact us for a free consultation.
4,620 SqFt
SOLD DATE : 04/27/2022
Key Details
Sold Price $2,100,000
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Square Footage 4,620 sqft
Price per Sqft $454
MLS Listing ID SB22005862
Sold Date 04/27/22
HOA Y/N No
Year Built 1924
Lot Size 6,804 Sqft
Acres 0.1562
Property Description
14 Units located near the port of Los Angeles, 916
Watson Ave is partially remodeled with plenty of
upside for an investor looking to increase the value.
This cash flowing apartment building is located in the
90744 zip code near the new Harbor redevelopment
project and is offered at only $154k per unit. The
property is currently operating at an above market
cap rate of 4.87% and 12.81 GRM. 916 Watson Ave is the
ideal opportunity for any investor looking for strong
cash flow with room to grow the monthly income by
over 20%.
An ideal unit mix for the 2022 renter as it consists of
(4) 1-Bed/1-Bath and (10) Studio/1-Bath units. Some
units have been remodeled, including new floors,
cabinets and windows. The property sits on a 6,802
SqFt lot and has 4,620 SqFt of rentable space.
With the Harbor development project, the draw from
the port of Los Angeles, and being located in one of
the most densely populated markets in the county, 916
Watson is ideally positioned for long term upside and
is a great purchase for current cash-flow.
Location
State CA
County Los Angeles
Area 196 - East Wilmington
Zoning LAR2
Rooms
Ensuite Laundry None
Interior
Laundry Location None
Fireplace No
Laundry None
Exterior
Pool None
Community Features Biking, Curbs, Golf, Park, Sidewalks, Urban
Private Pool No
Building
Lot Description Item01UnitAcre
Story 1
Entry Level One
Sewer Public Sewer
Water Public
Level or Stories One
New Construction No
Others
Senior Community No
Tax ID 7425035031
Acceptable Financing Conventional
Listing Terms Conventional
Financing Conventional
Special Listing Condition Standard
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Bought with Cameron Samimi • Lyon Stahl Investment Real Estate, Inc.
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "
Scott Greenspan
Broker Owner