1162 E 43rd Place,Los Angeles, CA 90011
Los Angeles, CA 90011
Description
Great cash flow property with huge upside too. 11.8% cash on cash return with current rents. 8.3% cap rate. Many upgrades over the years including, Newer roof on both buildings, Copper water pipes, Vinyl windows, new external stairs to top unit in the back building. Possible conversion of garages currently used for storage to ADU to make 7 or 8 units, check with city for allowances. Located in a strong rental area in South Central Area with a great unit mix of five 3 Bdrm and 1 Bath units. Walkable score of 83. Property is separate metered for Gas and Electric and consists of two buildings, a 4-plex up front and duplex along with a 4 car garage in the back. Front 4 units have been converted to 3 bedrooms but third bedroom can easily be used as a living room as well, Buyer to verify permits for all changes and improvements. Market rents shown are for Section 8 approved 2 bedroom units. Garages currently used for storage.
Details
| MLS# | PW24235975 |
|---|---|
| Listing Type | For Sale |
| Style | Town House |
| Sub-Type | Resale |
| Status | Active Under Contract |
| Year | 1954 |
| Days On Site | 184 |
| Listing Provided By | Bell Realty Group 714-309-3549 | Richard Bell |
Features
| SQ Feet | 5,729 |
|---|---|
| Garage | 4 |
| Story(s) | 2 |
| Units | 6 |
| Building(s) | 2 |
| Zoning | LAC2 |
| Acreage | 0.16 |
Market Activity 90011
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Learn More About This Property
| State | CA |
|---|---|
| County | Los Angeles |
| City | Los Angeles |
| Zip Code | 90011 |
| Area | 699 Not Defined |
| Listing VS Median (in 90011) | |
Price: $1,395,000 low | high Med: $789,000 SqFt: 5,729 low | high Med: 2,424 $ / SqFt: $243 low | high Med: $327 On site: 184 low | high Med: 108.000000 | |