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$ 999,000
Est. payment | /mo
7 Beds
3 Baths
6,077 Sqft Lot
$ 999,000
Est. payment | /mo
7 Beds
3 Baths
6,077 Sqft Lot
Key Details
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Active
Purchase Type For Sale
MLS Listing ID CV25264445
Bedrooms 7
Lot Size 6,077 Sqft
Property Sub-Type Res Income 2-4 Units
Property Description
CAP RATE 5.5%. GRM 14.28. New owner can use the laundary room to increase the CAP RATE to over 6%. The only GEM in the area close to East LA and Downtown with existing cap rate over 5%, not in city terrace with low rental return! Prime development opportunity positioned on a high-visibility corridor with strong traffic counts and long-term growth potential. This property is a rare R3 land which offers an excellent opportunity for developers, builders, and value-add investors seeking to capitalize on a well-located parcel with flexible future use (buyer to verify zoning, density, and permitted uses with the city). The land itself already worth over 900K and planned for multi-familiy. Also, it starts earning rental income from day one with this fully tenant-occupied property while you are waiting for plan check or you want to keep it! Exceptional income-producing property priced below market for a quick sale. This fully tenant-occupied asset offers immediate, stable rental income of approximately $5,600/month All lease are month-to-month lease, making it an ideal opportunity for investors or owner-occupants seeking strong returns. Rent are close to the market but still have room to increase. The property also has a laundry room for extra income. Great value-add opportunity and projected rent can be over $6,700/month. Tenants will be transferred. The property has been professionally managed and well maintained over the past 5 years, with long-term tenants who have consistently paid on time for over a decade. Rents are near market value, with built-in potential for future incr
Location
State CA
County Los Angeles
Zoning Assessor
Direction South of Fwy 60, exit Whittier Blvd
Interior
Cooling Wall/Window
Fireplace No
Exterior
View Y/N No
Building
Story 2
Level or Stories 2
Others
Senior Community No
Tax ID 5188004049
Acceptable Financing Cash, Conventional, Exchange
Listing Terms Cash, Conventional, Exchange
Listed by Ken Wong, DRE#02241255 STIGLER MORTGAGE
NEARBY SCHOOL & BUSINESS
8322 Clairemont Mesa Blvd Suite 206, Diego, California 92111, United States