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$1,300,000
Est. payment /mo
4,098 Sqft Lot
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Quadruplex
Listing Status Active
Purchase Type For Sale
MLS Listing ID PW26186112
HOA Y/N No
Year Built 1985
Lot Size 4,098 Sqft
Property Sub-Type Quadruplex
Property Description
Four large 2-bedroom, 1-bathroom units in a 1985 built building, the kind of floor plan that keeps tenants in place for decades and rarely comes to market in this pocket of Los Angeles. One unit is delivered vacant and fully remodeled, giving an owner-occupant the option to move in immediately or an investor the ability to reset that unit to full market rent on day one. Because the property was built in 1985, it is exempt from the Los Angeles Rent Stabilization Ordinance. Rents are governed instead by the state's Tenant Protection Act, which currently permits annual increases of up to 8.7% in the Los Angeles metro area (subject to annual adjustment), nearly three times what an RSO building allows. In-place rents are already strong, but every occupied unit still sits below the vacant unit's market rate, so the next owner inherits both durable current income and a clear, legal path to raise it. The building is turnkey. New roof, well maintained, and off-street parking already in place for tenants with room to add more. Offered at a 10.52 GRM on current income, or roughly 9.31 GRM once all four units reach market. Directly across from Trinity Park and minutes from USC, Downtown, and the 110, the location draws from one of the deepest and most consistent tenant pools in the city.
Location
State CA
County Los Angeles
Area C42 - Downtown L.A.
Interior
Fireplace No
Laundry None
Exterior
Parking Features Assigned
Pool None
Community Features Sidewalks
Private Pool No
Building
Lot Description Corner Lot
Story 2
Entry Level Two
Sewer Public Sewer
Water Public
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 5127013021
Acceptable Financing Cash to New Loan
Listing Terms Cash to New Loan
Special Listing Condition Standard
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Listed by Matias Stofenmacher Edgestone Real Estate, Inc. 818-464-5707, DRE #01705003
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