CURRENT CAP is 5.82% And 11.89 GRM PLUS 1 VACANT UNIT FOR IMMEDIATE UPSIDE. MARKET CAP: 7.26% AND 10.06 GRM In the heart of the evolving Hyde Park neighborhood, this 8-unit multifamily property combines immediate cash flow with significant development potential. The current unit mix includes (5) 1-bed/1-bath units (2… Read More vacant), (2) 2-bed/1-bath units, and (1) 2-bed/2-bath Section 8 unit. There is currently one vacancy ready to be filled. Six units have been recently renovated with laminate flooring, modern tile, updated cabinetry, and granite countertops. Additional features include new exterior paint and landscaping (2017), secured entry with a new electric gate, gated on-site parking for 13 cars, on-site laundry for extra income, and separate gas/electric meters. Strong in-place income with room for growth. Property has been professionally managed since 2017 and has been very well maintained, with any issues immediately addressed. Zoned R3 and located in a Tier 3 TOC area, the site is eligible for multiple incentives including AB 2334 and AB 2097, offering pathways to increased density and reduced parking requirements. By-right development allows for 14 units, or up to 26 with TOC density bonuses. Ideal for investors or developers looking to capitalize on one of LA's most promising submarkets.** Buyer to verify all square footage and development opportunities. Read Less
Courtesy of Californian Estates 323-719-7779
Listing Snapshot
Days Online
55
Last Updated
Property Type
Other
Beds
11
Square Ft.
4,737
Lot Size
0.26 Acres
Year Built
1948
MLS Number
26656789
30 Days Snapshot Of 90043
$1.21M
-5%
(avg) sold price
8
-33%
homes sold
38
-47%
(avg) days on market
Snapshot
Area Map
Additional Details
Appliances & Equipment
None
Building
4,737 sq ft, Built in 1948, Levels: One, Two
Cooling
None
Disclosures
None
Garage
Door Opener, Gated, Side By Side, Uncovered
Heating
None
Laundry
Community
Lot
LotAcreage: 0.2606, LotSizeArea: 11,352
Parking
TotalParking: 13
Property
NumberOfUnits: 8, Zoning: LAR3
Sewer
In Street
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