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$985,000
Est. payment /mo
8 Beds
4 Baths
4,975 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 WS26189594
Bedrooms 8
Lot Size 4,975 Sqft
Property Sub-Type Res Income 2-4 Units
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
Zoning Appraiser
Direction North on Euclid Ave/Lorena St Right on E 4th St
Interior
Cooling Wall/Window
Fireplace No
Exterior
View Y/N No
Building
Story 2
Level or Stories 2
Others
Senior Community No
Tax ID 5179011023
Acceptable Financing Cash, Conventional, Exchange
Listing Terms Cash, Conventional, Exchange
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Listed by BRIAN NGOY, DRE#01821280 Real Brokerage Technologies
Nearby School & Business
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