$1,655,000
$1,525,000
8.5%For more information regarding the value of a property, please contact us for a free consultation.
7,405 Sqft Lot
SOLD DATE : 10/30/2020
Key Details
Sold Price $1,655,000
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
MLS Listing ID CV20208808
Sold Date 10/30/20
HOA Y/N No
Year Built 1975
Lot Size 7,405 Sqft
Acres 0.17
Property Description
We are pleased to offer for sale this 9 unit multi-family investment located in the heart of Lincoln Heights (Los Angeles). Built in 1975, the subject property is comprised of 1(4Bed/2Bath) unit, and 8(1Bed/1Bath) units. All units are separately metered for electricity and gas, while the owner pays for water and trash. Tenants enjoy onsite covered parking as well as an onsite laundry facility. Additionally all earthquake retrofit requirements have been completed by the seller. Long term tenants are in place and below market rents, but for those looking for a repositioning opportunity, this asset offers close to a 70% upside in rental income. The property is 100% tenant occupied all of whom are current on rental payments through COVID. The seller has not attempted any "buy outs" of the current residents.
Location
State CA
County Los Angeles
Area 677 - Lincoln Hts
Zoning LAR3
Rooms
Ensuite Laundry Common Area, Inside
Interior
Laundry Location Common Area,Inside
Fireplace No
Laundry Common Area, Inside
Exterior
Garage Covered
Carport Spaces 11
Pool None
Community Features Curbs, Gutter(s), Sidewalks
Parking Type Covered
Total Parking Spaces 12
Private Pool No
Building
Lot Description 6-10 Units/Acre
Sewer Public Sewer
Water Public
New Construction No
Others
Senior Community No
Tax ID 5211012014
Energy Description 2450.0
Acceptable Financing Cash, Cash to New Loan
Listing Terms Cash, Cash to New Loan
Financing Cash
Special Listing Condition Standard
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Bought with KRISTOPHER GERMAN • RE/MAX 2000
"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