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Listed by Richard Bell • Bell Realty Group
$ 1,395,000
Est. payment /mo
Active Under Contract
1162 East 43rd Place Los Angeles, CA 90011
5,729 SqFt
UPDATED:
Key Details
Property Type Single Family Home
Sub Type Apartment
Listing Status Active Under Contract
Purchase Type For Sale
Square Footage 5,729 sqft
Price per Sqft $243
MLS Listing ID PW-24235975
Year Built 1954
Lot Size 6,981 Sqft
Property Sub-Type Apartment
Property 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.
Location
State CA
County Los Angeles
Zoning LAC2
Interior
Heating Wall Furnace
Cooling None
Fireplaces Type None
Laundry None
Exterior
Parking Features None
Garage Spaces 4.0
Pool None
Community Features Curbs, Sidewalks, Storm Drains, Street Lights
Utilities Available Sewer Connected, Water Connected, Electricity Connected, Natural Gas Connected
Building
Lot Description 6-10 Units/Acre
Sewer Public Sewer