3806 W Avenue 41 Los Angeles, CA 90065
Due to the health concerns created by Coronavirus we are offering personal 1-1 online video walkthough tours where possible.
Monthly Payment (Est.)$7,209
** PRICE REDUCED BY $275,000 ** We are pleased to present for sale this rare 5 Unit mid-century construction multifamily building nestled between LA's most eclectic sub-markets of Eagle Rock, Glassell Park, Highland Park, Atwater Village, Frogtown, and Glendale. The property boasts an excellent unit mix of (1) 2 Bed & 1 Bath "Owners Unit" with in-unit laundry, mini-split A/C, & private patio space with recent modern renovations that will be delivered VACANT, (1) 2 Bed & 1.5 Bath Unit, and (3) 1 Bedroom & 1.5 Bathroom Units. A total square footage of 4,324 SF, situated on a lot size of 6,249 SF, the property is gated, includes a common area laundry room, and is surrounded by ficus hedges that create a private and Zen like environment for high paying tenants. There are (4) tuck-under parking spaces and (1) expansive garage space that can be immediately converted to an ADU (Buyer to Verify Feasibility). With limited supply in this prime location, strong in place returns (5.96% Cap Rate and 11.59 GRM on Current Income), and significant up-side potential of 91% or a 13.31% Market Cap (Before Cap Ex). The property is poised for an investor looking to add rental income from the ADU addition OR an owner-user looking to occupy the owners unit and rent out the remainder. Disclosure: Soft story retrofit work needs to be completed. Seller has RTI plans. Buyer to verify and/all information including but not limited to the property square footage, lot square footage, year built, and zoning.
|yesterday||Listing updated with changes from the MLS|
|yesterday||Price changed to $1,100,000|
|3 weeks ago||Price changed to $1,225,000|
|2 months ago||Listing first seen online|