Great cash flow property with huge upside too. 7.5% cash on cash return with current rents and management fee included, 7.1% cap rate. Many upgrades over the years including, Newer roof on both buildings, Copper water pipes, Vinyl windows, new external stairs to top unit in the back building. Possible conversion of garages currently used for storage to ADU to make 7 or 8 units, check with city for allowances. Located in a strong rental area in South Central Area with a great unit mix of five 3 Bdrm and 1 Bath units. Walkable score of 83. Property is separate metered for Gas and Electric and consists of two buildings, a 4-plex up front and duplex along with a 4 car garage in the back. Front 4 units have been converted to 3 bedrooms but third bedroom can easily be used as a living room as well, Buyer to verify permits for all changes and improvements. Market rents shown are for Section 8 approved 2 bedroom units. Garages currently used for storage.
Property Details
Price:
$1,525,000
MLS #:
PW24235975
Status:
Active
Baths:
0
Address:
1162 E 43rd Place
Type:
Residential Income
Subtype:
Commercial/Residential
Neighborhood:
699notdefined
City:
Los Angeles
Listed Date:
Nov 18, 2024
State:
CA
ZIP:
90011
Lot Size:
6,981 sqft / 0.16 acres (approx)
Year Built:
1954
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Schools
Interior
Cooling
None
Fireplace Features
None
Heating
Wall Furnace
Exterior
Community Features
Curbs, Sidewalks, Storm Drains, Street Lights
Fencing
Chain Link, Grapestake
Garage Spaces
0.00
Lot Features
6-10 Units/ Acre
Parking Features
None
Parking Spots
0.00
Pool Features
None
Roof
Flat
Sewer
Public Sewer
Spa Features
None
Stories Total
2
Water Source
Public
Financial
Association Fee
0.00
Tenant Pays
Cable T V, Electricity, Gas
Utilities
Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
Map
Community
- Address1162 E 43rd Place Los Angeles CA
- Area699 – Not Defined
- CityLos Angeles
- CountyLos Angeles
- Zip Code90011
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Courtesy of Bell Realty Group. Disclaimer: All data relating to real estate for sale on this page comes from the Broker Reciprocity (BR) of the California Regional Multiple Listing Service. Detailed information about real estate listings held by brokerage firms other than include the name of the listing broker. Neither the listing company nor shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. The Broker providing this data believes it to be correct, but advises interested parties to confirm any item before relying on it in a purchase decision. Copyright 2024. California Regional Multiple Listing Service. All rights reserved.
1162 E 43rd Place
Los Angeles, CA
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