CURRENT CAP is 5.82% And 11.89 GRM PLUS 1 VACANT UNIT FOR IMMEDIATE UPSIDE. MARKET CAP: 7.26% AND 10.06 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 one vacancy 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
22
Last Updated
Beds
11
Square Ft.
4,737
Lot Size
0.26 Acres
Year Built
1948
MLS Number
26656789
Additional Details
Building
Built in 1948, Living area: 4737.0, 3 buildings, Levels: One, Two
Community
Gated
Cooling
None
Heating
None
Income
Gross Income: $149,331, Net Operating Income: $103,233
Laundry
CommonArea
Lot
0.2606 acres
Parking
13 total parking spaces, Garage, GarageDoorOpener, Gated, SideBySide, Uncovered
Security Features
GatedCommunity
Taxes
Parcel Number: 4006019026, Zoning: LAR3
Tenant Pays
CableTv, Electricity, Gas
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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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