$880,000
$1,000,000
12.0%For more information regarding the value of a property, please contact us for a free consultation.
5 Beds
6 Baths
2,745 SqFt
SOLD DATE : 08/22/2024
Key Details
Sold Price $880,000
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Square Footage 2,745 sqft
Price per Sqft $320
MLS Listing ID 24394893
Sold Date 08/22/24
Bedrooms 5
HOA Y/N No
Year Built 1924
Lot Size 7,501 Sqft
Acres 0.1722
Property Description
BUNGALOWS on Ascot! We are pleased to present a 6-Unit bungalow community located at 5111 Ascot Ave. With 6 separate bungalow structures on the property, tenants enjoy the feeling of living in a single-family home paired with the affordability of living within an apartment community. The building currently operates at a 9.96 GRM on current rents, with rental upside potential to a 6.46 GRM and a 10.85% CAP on pro-forma rents. The units consist of 2 studio bungalows (one of which is a brand new ADU!), 3 one-bedroom bungalows, and 1 two-bedroom bungalow. Delivered with 1 unit VACANT, it will allow the new owner to set a market rent for a very in-demand bungalow product.
Location
State CA
County Los Angeles
Area C42 - Downtown L.A.
Zoning LAR2
Interior
Fireplace No
Exterior
Garage Driveway
Parking Type Driveway
Total Parking Spaces 6
Building
Story 1
Entry Level One
Level or Stories One
New Construction No
Others
Senior Community No
Tax ID 5104006017
Special Listing Condition Standard
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Bought with Casey Lins • Kidder Mathews of California, 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