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Bobby Kelley

bobbykelley@compass.com +1(650) 885-8383

Listed by Handoko Chen, DRE #01749321 • Growth Investment Group Pasade

$ 3,300,000

Est. payment | -/mo

10,557 Sqft Lot

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$ 3,300,000

Est. payment | -/mo

Save

10,557 Sqft Lot

Key Details

Property Type Commercial

Listing Status Active

Purchase Type For Sale

MLS Listing ID CRAR26137954

Style Spanish

Year Built 1923

Lot Size 10,557 Sqft

Source California Regional MLS

Property Description

2ND Price Reduction! Renovated 15-unit building (13 Units + 2 Brand New Non-RSO ADUs) cash flowing at a whopping 8% In-place CAP Rate providing over 12% Cash-on-cash return. Major capital improvements completed including new roofs, new electrical, new plumbing, new double pane windows throughout, new exterior paint, new entrance gate, new landscaping, and 10 of the 13 units have been completely upgraded + 2 New ADUs in the back (Not Subject to Rent Control). It offers significant upside to a 9.4% Proforma CAP Rate upon the remaining 3 non-upgraded units turnover. Combine this high return + its newer year built + ease of maintenance, this offering is perfect for a 1031 exchange buyer or an experienced investor looking for high cash flow + easy to maintain assets. The main property was built in 1923 and completely renovated with permits in 2023. The building offers single-story spanish style units with an efficent mix for the area, consisting of ten (10) 1bed+1bath and five (5) Studio units. The property sits on a large 10,554 SF C2 zoned lot and includes RTI plans to convert 2 brand new ADUs into 6 ADUs, adding additional 4 units. It is centrally located in a highly desirable area just minutes away from the home of LAFC our city's premier professional soccer team, BMO Stadium, USC

Location

State CA

County Los Angeles

Area C34 - Los Angeles Southwest

Rooms

Kitchen Hood Over Range, Oven Range - Gas, Refrigerator

Interior

Heating Wall Furnace

Cooling Window / Wall Unit

Flooring Laminate

Laundry None

Exterior

Parking Features No Parking

Pool 31, None

View None

Roof Type Flat / Low Pitch

Building

Lot Description Grade - Level

Story One Story

Water District - Public

Architectural Style Spanish

Others

Tax ID 6004031040

Special Listing Condition Not Applicable

Nearby Locations

"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "

+1(650) 885-8383

bobbykelley@compass.com

891 Beach St, San Francisco, CA 94109, USA

5928 S Hoover ST Los Angeles, CA 90044

Bobby Kelley

Key Details

Location

Rooms

Interior

Exterior

Building

Others

Nearby Locations

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5928 S Hoover ST