$799,000
$799,000
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4,499 Sqft Lot
SOLD DATE : 10/31/2024
Key Details
Sold Price $799,000
Property Type Multi-Family
Sub Type Triplex
Listing Status Sold
Purchase Type For Sale
MLS Listing ID DW24194435
Sold Date 10/31/24
HOA Y/N No
Year Built 1928
Lot Size 4,499 Sqft
Property Description
Perfect 3 unit multi-family investment property located in the very desirable rental area of East Los Angeles. First Time in the market in 28 years the subject property unit mix consists of 3 Stand Alone Spanish Style Bungalows with the front bungalow 1 bedroom and one bathroom and the middle and rear unit being 2 bedrooms and 1 bathroom each. This is an excellent opportunity. The new owner will appreciate the current income yielding a 5.9% cap rate and $266,333 cost per unit. Total rentable square feet of the building is approximately is 1716 and lot is 4499 square feet. The 3 rear garages can possibly be converted to an ADU. All rental units are separately metered for Gas and Electricity while the owner pays for Water & Trash. Tenants also enjoy the convenience of being located walking distance to the many shops and restaurants off of the famous Whittier Boulevard's retail corridor and within a short drive to the 5,60 and 710 freeways. With limited inventory this prime location is perfect for the 1031 exchange investor or a buyer that may want to live in one of the units. Must see to appreciate. Investor will not be disappointed.
Location
State CA
County Los Angeles
Area Ela - East Los Angeles
Zoning LCR3YY
Interior
Fireplace No
Laundry None
Exterior
Garage None
Garage Spaces 3.0
Garage Description 3.0
Pool None
Community Features Street Lights, Sidewalks
Total Parking Spaces 3
Private Pool No
Building
Lot Description 2-5 Units/Acre, Back Yard
Story 1
Sewer Public Sewer
Water Public
New Construction No
Others
Senior Community No
Tax ID 5240010022
Acceptable Financing Cash, Conventional, 1031 Exchange
Listing Terms Cash, Conventional, 1031 Exchange
Financing Conventional
Special Listing Condition Standard
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Bought with David Gomez • Realty Executives Com. & Res.
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "