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$ 1,099,000
Est. payment /mo
Price Dropped by $51K
651 E 41st Los Angeles, CA 90011
6 Beds
3 Baths
7,553 Sqft Lot
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Active
Purchase Type For Sale
MLS Listing ID SR26010787
Bedrooms 6
Lot Size 7,553 Sqft
Property Sub-Type Res Income 2-4 Units
Property Description
Excellent value-add 3-unit multifamily investment in Los Angeles with strong in-place income and upside potential. The property features three (3) spacious 2-bedroom / 1-bath units with approximately 4,626 square feet of building area on an approximately 7,551 square foot lot. Current rents are below market, with estimated market and voucher rents of approximately $2,887 per unit. One unit is anticipated to be delivered vacant at close, providing flexibility for a new owner to establish market rent or pursue an owner-user strategy. Recent capital improvements include a newer roof and newer windows, which may reduce near-term maintenance. All utilities are separately metered, contributing to efficient operations. On-site parking enhances tenant appeal. Additional value-add opportunity: An approximately 800 square foot garage, anticipated to be delivered vacant, may offer potential for conversion to an accessory dwelling unit (ADU), subject to buyer verification and approval by the City of Los Angeles / LADBS. Buyer to conduct their own investigations regarding zoning, permits, feasibility, and allowable uses. Well suited for investors, 1031 exchange buyers, and value-add operators seeking current income with future upside in a high-demand rental market.
Location
State CA
County Los Angeles
Zoning Assessor
Direction AVALON & MARTIN LUTHER KING
Interior
Fireplace No
Exterior
View Y/N No
Building
Story 2
Level or Stories 2
Others
Senior Community No
Tax ID 5115002020
Acceptable Financing Cash, Conventional, Exchange, FHA, VA
Listing Terms Cash, Conventional, Exchange, FHA, VA
Listed by Brent Gong Coldwell Banker Realty