3249 E 4th, Los Angeles, CA 90063
3249 E 4th, Los Angeles, CA 90063
3249 E 4th, Los Angeles, CA 90063
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Mike Jones

Mike Jones

+1(480) 326-9233
$985,000
Est. payment /mo
8 Beds
4 Baths
3,288 SqFt
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Key Details

Property Type Single Family Home

Sub Type All Other Attached

Listing Status Active

Purchase Type For Sale

Square Footage 3,288 sqft

Price per Sqft $299

MLS Listing ID WS26189528

Bedrooms 8

Full Baths 4

Year Built 1963

Lot Size 4,975 Sqft

Property Sub-Type All Other Attached

Property Description

Exceptional 4-UNIT BOYLE HEIGHTS INVESTMENT $985,000 / APPROX. $299 PER SF and just $246,250 per existing unit! There is potential for 46% more gross rental income and 7.0% stabilized cap at the $985K asking price. Current rents totaling approximately $4,767.80 per month with upside to $8,800 per month. That increases the gross scheduled rent from $57,214/year to approximately $105,600/year, an increase of roughly $48,386 annually. The biggest growth opportunity is in converting existing garage space into 2 ADU-conversions to bring in up to an additional $1,800 per month totalling $3,600 per month in additional income. The property goes from $8,800/month in projected market rent to $12,400/month 4+2 adus stabilized annual rents: $148,800/year. You will have approximately a 10.15% cap rate at $985,000. The seller has completed substantial capital improvements during ownership, including a copper plumbing re-pipe approximately six years ago, upgraded electrical panel, exterior painting, roof maintenance, replacement of two tank-style water heaters and remodeled bathrooms in two units. The property has four separate electric meters and four separate gas meters. The major systems are set and ready to go. Overall, the property has been well maintained, reflecting pride of ownership, and offers significant rental upside potential.

Location

State CA

County Los Angeles

Direction From CA-60 take Euclid exit, North to E 4th St, right onto E 4th st

Interior

Cooling Wall/Window

Fireplace No

Exterior

Garage Spaces 3.0

View Y/N Yes

Water Access Desc Public

Total Parking Spaces 3

Building

Story 2

Sewer Public Sewer

Water Public

Level or Stories 2

Others

Senior Community No

Tax ID 5179011023

Acceptable Financing Cash, Conventional, Exchange, Cash To New Loan

Listing Terms Cash, Conventional, Exchange, Cash To New Loan

Special Listing Condition Standard

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MLS Router / San Diego MLS
Listed by BRIAN NGOY, DRE#01821280 Real Brokerage Technologies 

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Mike Jones

Mike Jones

+1(480) 326-9233

Agent CA BRE #01094232

Agent CA BRE #01094232

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