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$1,485,000
Est. payment /mo
8 Beds
7,000 Sqft Lot
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Active
Purchase Type For Sale
MLS Listing ID SR25243249
Bedrooms 8
Lot Size 7,000 Sqft
Property Sub-Type Res Income 2-4 Units
Property Description
We are proud present an exceptional Spanish style 4-unit building in the heart of West Adams. Built in 1930, the subject consists of four spacious 2 bedroom / 1 bath units each with Spanish style details and charm, in-unit washer/dryers, and individual water heaters. Located in an opportunity zone which can offer powerful tax incentives for investors. Recent improvements to the well-maintained building include exterior paint, new fencing surrounding the property, main sewer line replacement, roof weather coating, and interior remodeling of 2 units. Highly desirable corner lot at the intersection of Buckingham Rd and 29th St with 4 covered garages. 3 garages are vacant and can either be rented for at least $125 each or can be built into 1 or more ADUs to generate further rental income. With current rental upside of 35%, the building presents an amazing value add opportunity in an unbeatable location close to Downtown LA, the 10 freeway, and the Westside. All units are currently eligible for City of LA 3% annual rent increase, which buyer can implement immediately to bring annual income to $105,245.40.
Location
State CA
County Los Angeles
Zoning Assessor
Direction Buckingham Rd and W 29th St
Interior
Fireplace No
Exterior
View Y/N No
Building
Story 2
Level or Stories 2
Others
Senior Community No
Tax ID 5050012025
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
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Listed by Anie Mayelian Keller Williams Realty Calabasas
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