$1,900,000
$1,950,000
2.6%For more information regarding the value of a property, please contact us for a free consultation.
7,405 Sqft Lot
SOLD DATE : 09/11/2019
Key Details
Sold Price $1,900,000
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Subdivision Downtown (Dt)
MLS Listing ID RS19059595
Sold Date 09/11/19
HOA Y/N No
Year Built 1926
Lot Size 7,405 Sqft
Acres 0.17
Property Description
First time on the market in over 17 years and Seller is extremely motivated. Property is currently operating as 9 units, but shows 10 legal units on record. Huge value-add opportunity with below market rents and a Pro Forma Cap Rate of 6.44% based on conservative market rents. The property is comprised of EIGHT (Studios) and ONE (11+ 3 House). The house was built as two separate single family houses and legally converted into a duplex in 1999. 4 of the 8 Studios have been remodeled and the house is in good condition. All leases are month to month and there is significant upside for a new investor by remodeling unit interiors and raising rents to market. The house and two studios are currently vacant, allowing a Buyer to begin raising rents immediately.
Location
State CA
County Los Angeles
Area 4 - Downtown Area, Alamitos Beach
Zoning LBCO
Rooms
Ensuite Laundry Common Area
Interior
Laundry Location Common Area
Fireplace No
Laundry Common Area
Exterior
Pool None
Community Features Curbs, Gutter(s), Street Lights, Sidewalks, Urban
Private Pool No
Building
Lot Description Corner Lot
Sewer Public Sewer
Water Public
New Construction No
Others
Senior Community No
Tax ID 7274020013
Acceptable Financing Cash, Cash to New Loan, Conventional, Owner May Carry
Listing Terms Cash, Cash to New Loan, Conventional, Owner May Carry
Financing Cash
Special Listing Condition Standard
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3631 Truxel Rd # 1081, Sacramento, CA, 95834, United States