CURRENT CAP is 4.24% And 14.84 GRM PLUS 2 VACANT UNITS FOR IMMEDIATE UPSIDE. MARKET CAP: 6.77% AND 10.64 GRM In the heart of the evolving Hyde Park neighborhood, this 8-unit multifamily property combines immediate cash flow with significant development potential. The current unit mix includes (5) 1-bed/1-bath units… Read More (2 vacant), (2) 2-bed/1-bath units, and (1) 2-bed/2-bath Section 8 unit. There is currently two vacancies ready to be filled. Six units have been recently renovated with laminate flooring, modern tile, updated cabinetry, and granite countertops. Additional features include new exterior paint and landscaping (2017), secured entry with a new electric gate, gated on-site parking for 13 cars, on-site laundry for extra income, and separate gas/electric meters. Strong in-place income with room for growth. Property has been professionally managed since 2017 and has been very well maintained, with any issues immediately addressed. Zoned R3 and located in a Tier 3 TOC area, the site is eligible for multiple incentives including AB 2334 and AB 2097, offering pathways to increased density and reduced parking requirements. By-right development allows for 14 units, or up to 26 with TOC density bonuses. Ideal for investors or developers looking to capitalize on one of LA's most promising submarkets.** Buyer to verify all square footage and development opportunities. Read Less
Property listed by Californian Estates, Bethany Woolf 323-719-7779
Listing Snapshot
Days Online
97
Last Updated
Property Type
Other
Beds
11
Square Ft.
4,737
Lot Size
0.26 Acres
Year Built
1948
MLS Number
25570109
30 Days Snapshot Of 90043
$886k
-10%
(avg) sold price
17
-34%
homes sold
77
-27%
(avg) days on market
Snapshot
Area Map
Additional Details
Building
Built in 1948, Building area total: 4,737, Levels: One, Two, Living area: 4737, 1 story, 3 buildings
Community
Gated
Cooling
None
Heating
None
Income
Gross income: $121,309, Net operating income: $76,299
Based on information from California Regional Multiple Listing Service, Inc. as of 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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