This is a unique opportunity to purchase a partially stabilized 7-unit asset in a core Southern CA market with real upside to a 6.37% cap rate. Current ownership has established a proven renovation plan by remodeling 4 out of 7 units and achieved market rents for only 57% of the building. Leaving an additional 29% upside in rents for a new owner to capitalize on. Some improvements include high end kitchen & bathroom remodels in four units, added mini split AC/heaters in two units, added in-unit washer dryers in two units, added in-unit sub panels in three units, installed artificial turf in front yard and added drought tolerant landscaping with drip new irrigation system. The building has a diverse unit mix comprised of (1) 2BD/1BA, (5) 1BD/1BA, (1) Studio units and (4) on-site garages.
|
DAYS ON MARKET
|
139
|
LAST UPDATED
|
3/21/2023
|
|
TRACT
|
Wrigley Area (WR)
|
YEAR BUILT
|
1955
|
|
COMMUNITY
|
Wrigley Area
|
GARAGE SPACES
|
4.0
|
|
COUNTY
|
Los Angeles
|
STATUS
|
Sold
|
|
PROPERTY TYPE(S)
|
Residential Income
|
|
|
|
Prior to Dec 5, '22
|
$1,895,000
|
| Dec 5, '22 - Today |
$1,850,000 |
| APPLIANCES |
Gas Range |
| AREA |
Wrigley Area |
| GARAGE |
Door-Single, Garage, Yes |
| HEAT |
Combination, Wall Furnace |
| HOA DUES |
0 |
| LOT |
5900 sq ft |
| LOT DESCRIPTION |
Front Yard, Landscaped, Street Level |
| PARKING |
Door-Single,Garage |
| POOL DESCRIPTION |
None |
| SEWER |
Public Sewer |
| STORIES |
2 |
| SUBDIVISION |
Wrigley Area (WR) |
| UTILITIES |
Electricity Connected,Natural Gas Connected,Water Connected |
| WATER |
Public |
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Based on information from California Regional Multiple Listing Service, Inc. as of 4/26/24 5:26 PM PDT and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information
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