5-Unit Turnkey property with extremely strong proven rents. 4 Studios averaging $1548/Month and a 2-Bed Unit rented at $1900/Month with gross rents at $97,104. The subject property is highlighted by a large lot where multiple ADUs are a possibility. Operating at 9.27 GRM and stabilizes at 7.40 GRM. The one story structure is wood frame stucco. The zoning for the lot is LCR3 situated on 4,718 SF. With the addition of ADUs, the cap rate will jump substantially north of a 10% cap rate. It’s a perfect opportunity to acquire one of the strongest income deals in Los Angeles.
Property Details
Price:
$900,000
MLS #:
SB24219230
Status:
Active
Baths:
0
Address:
7408 Elsie Street
Type:
Residential Income
Subtype:
Apartment
Neighborhood:
c37metropolitansouth
City:
Los Angeles
Listed Date:
Oct 22, 2024
State:
CA
ZIP:
90001
Lot Size:
4,720 sqft / 0.11 acres (approx)
Year Built:
1926
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Schools
Interior
Heating
Central
Exterior
Community
55+
Community Features
Biking, Dog Park, Golf, Park
Garage Spaces
0.00
Lot Features
0-1 Unit/ Acre
Parking Spots
0.00
Pool Features
None
Sewer
Public Sewer
Stories Total
1
Water Source
Public
Financial
Map
Community
- Address7408 Elsie Street Los Angeles CA
- AreaC37 – Metropolitan South
- CityLos Angeles
- CountyLos Angeles
- Zip Code90001
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Courtesy of Lyon Stahl Investment Real Estate, Inc.. 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.7408 Elsie Street
Los Angeles, CA
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