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$1,199,999
Est. payment /mo
11 Beds
3,935 SqFt
UPDATED:
Key Details
Property Type Single Family Home
Sub Type OTHER
Listing Status Active
Purchase Type For Sale
Square Footage 3,935 sqft
Price per Sqft $304
MLS Listing ID CL26643357
Bedrooms 11
HOA Y/N No
Year Built 1905
Lot Size 6,829 Sqft
Acres 0.16
Property Sub-Type OTHER
Property Description
Positioned in the heart of Historic Filipinotown within Los Angeles, and moments from the energy of Silver Lake and Echo Park, this exceptional 3-unit multifamily asset delivers a rare combination of immediate upside, strong yield, and long-term appreciation. The property features an excellent unit mix consisting of one 5-bedroom unit, one 4-bedroom unit, and one 3-bedroom unit, offering oversized layouts that are highly sought after by today's urban renters. Two of the three units are delivered vacant, allowing investors to immediately capture full market rents and execute their business plan without delay. Tenants are responsible for all utilities, keeping operating expenses lean and maximizing net income. On a proforma basis (after lease-up of the vacant units), the property operates at an approximate 9.2% cap rate and 7.96 GRM, generating strong positive cash flow. An on-site storage structure presents potential ADU conversion upside, subject to buyer verification with the city and buyer's own professionals, adding an additional value-add component for future growth. -- The property is situated within an R3 zoning designation, which may allow for by-right development of up to approximately 8 residential units, with additional density potential under the City of Los Angeles ED1 program, potentially supporting 20+ units, subject entirely to buyer verification. -- Located near major employment hubs, dining, nightlife, transit corridors, and cultural landmarks, this asset benefits from consistent rental demand in one of Los Angeles' most dynamic and supply-constrained submarkets. Full Offering Memorandum & Property Package available upon request. DO NOT DISTURB OCCUPANTS. Tours of vacant units available by appointment; full interior access subject to accepted offer. DISCLAIMER: Cash flow, net income, and returns may vary based on interest rates, loan terms, and down payment. Buyer to complete full due diligence and come to their own conclusions.
Location
State CA
County Los Angeles
Zoning LAR3
Interior
Heating Wall Furnace
Fireplace No
Laundry No Hookups
Exterior
View Y/N false
View None
Building
New Construction No
Others
Tax ID 5153002027
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Listed by Fred Nabati • Trimax Realty, Inc.
NEARBY SCHOOL & BUSINESS
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Parisa Samimi
Founder & Real Estate Broker | License ID: 01858122
Founder & Real Estate Broker License ID: 01858122