Rare investment opportunity for investors. This property is on the market for the first time after 32 years of ownership. The well-maintained 9-unit 2-story apartment with low operation costs is situated conveniently near 405 Fwy, I-10, UCLA, and Santa Monica Beach. This apartment has two entrances from the front gate and back gate very easy to access the building. The first floor consists of 4 units, and the second floor has 5 units with separate gas and power meters for each unit. The property is on an easy-to-access street; each unit provides a 2-car parking garage with private storage to keep personal belongings, and a community laundry room on the first floor. Also, this property has an extra bathroom and storage room for the owner to use when on duty. The 9-unit apartment consists of 2 units with 2 beds and 2 baths for each unit, 7 units have 1 bed and 1 bath for each unit. On May 1, 2024 rent increased by 4%, the total gross income estimated per month is $18,425.00. Rent Income Per Year $221,100.00, + laundry income $ 2,700 per year. Total $ 223,800.00 a year. Yearly expenses: Estimated is approximately total of $ 38,865.00 a year. ( $ 1,440.00 for gas in laundry, $ 500 for Frontier internet Intercom front door,$240.00 internet for security camera, $ 4,500.00 for trash, $3,340.00 for water and power in laundry room, $ 19,257.00 property tax, $ 9,588.00 Insurance). Tenant pay their own gas and power, landlord pay water.
DAYS ON MARKET
|
198
|
LAST UPDATED
|
4/11/2024
|
YEAR BUILT
|
1964
|
COMMUNITY
|
Brentwood
|
GARAGE SPACES
|
12.0
|
COUNTY
|
Los Angeles
|
STATUS
|
Active
|
PROPERTY TYPE(S)
|
Residential Income
|
Prior to Feb 5, '24
|
$3,987,000
|
Feb 5, '24 - Apr 11, '24 |
$3,885,000
|
Apr 11, '24 - Today |
$3,655,000 |
AIR |
Wall/Window Unit(s) |
AIR CONDITIONING |
Yes |
APPLIANCES |
Dishwasher, Electric Range, Gas Oven, Gas Range |
AREA |
Brentwood |
BUYER'S BROKERAGE COMPENSATION |
2.000 % |
GARAGE |
Assigned, Yes |
HEAT |
Natural Gas, Wall Furnace |
INTERIOR |
Bedroom on Main Level, Block Walls, Storage, Unfurnished |
LOT |
6878 sq ft |
LOT DESCRIPTION |
6-10 Units/Acre, Level |
PARKING |
Assigned |
POOL DESCRIPTION |
None |
SEWER |
Public Sewer |
STORIES |
2 |
UTILITIES |
Electricity Available,Electricity Connected,Natural Gas Available,Natural Gas Connected,Phone Available,Sewer Available,Sewer Connected,Water Available,Water Connected, Electric: Electricity - On Property,Standard |
VIEW DESCRIPTION |
None |
WATER |
Public |
ZONING |
LAR3 |
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Listed with Rise Realty
The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.
Based on information from California Regional Multiple Listing Service, Inc. as of 4/30/24 10:36 AM 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
This IDX solution is (c) Diverse Solutions 2024.
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