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2945 W 11Th St

Los Angeles, CA 90006
  • $999,000
  • STATUS: Active
  • ON SITE: 215 Days
  • MLS #: 21-725564
UPDATED: 131 min ago
$999,000
  • 4
    BEDS
  • 0.05
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 2,132
    SQFT
  • $469
    $/SQFT
Neighborhood:
Type:
Multi-Family
Built:
1923
County:
Area:

School Ratings & Info

Description

**MAJOR PRICE REDUCTION & no COVID rent delinquency** Welcome to an exciting opportunity for the right investor! Located within one of Los Angeles's coveted Opportunity Zones, this property is well positioned for major upward redevelopment. Centrally and conveniently located, this 4-plex has immediate access to the 10 Freeway and the METRO Purple Line while also being just a stone's throw to Koreatown's many cultural delights. The current owners have well maintained this steady-income property. 4-plex is currently 100% occupied. Currently a 3.48% CAP Rate, pro forma leases potentially bring the CAP Rate closer to 5%, even with a city reassessment. Each unit is independently metered and tenants currently pay for all expenses including water, gas, electricity, trash, and cable service. Truly an investor's dream, don't wait! **Buyer is advised to independently verify all CAP Rates, investment calculations, and other associated information.

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Based on information from the Combined LA/Westside Multiple Listing Service as of 2021-12-08T20:43:15.333. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
www.searchdesertrealestate.com/homes/116854325
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2945 W 11Th St Los Angeles, CA 90006

  • Price: $999,000
  • Status: Active
  • On Site: 215 Days
  • Updated: 131 min ago
  • MLS #: 21-725564
4
Beds
0
Baths
0
½ Baths
0.05
Acres
2,132
SQFT
$469
$/SQFT
1923
Built
Neighborhood:
Mid-Wilshire
County:
Los Angeles
Area:
Mid-Wilshire
Property Description
**MAJOR PRICE REDUCTION & no COVID rent delinquency** Welcome to an exciting opportunity for the right investor! Located within one of Los Angeles's coveted Opportunity Zones, this property is well positioned for major upward redevelopment. Centrally and conveniently located, this 4-plex has immediate access to the 10 Freeway and the METRO Purple Line while also being just a stone's throw to Koreatown's many cultural delights. The current owners have well maintained this steady-income property. 4-plex is currently 100% occupied. Currently a 3.48% CAP Rate, pro forma leases potentially bring the CAP Rate closer to 5%, even with a city reassessment. Each unit is independently metered and tenants currently pay for all expenses including water, gas, electricity, trash, and cable service. Truly an investor's dream, don't wait! **Buyer is advised to independently verify all CAP Rates, investment calculations, and other associated information.
Exterior Features

Levels Two Lot Size Area 2025 Other Structures None Parking Garage On Street Pool Description None Pool YN No Roof Composition Spa None Spa YN No Style Spanish Total Parking 0

Interior Features

Bathroom Features TileRemodeled Baths Total 4.00 Common Walls Attached Cooking Appliances Cooktop - GasMicrowaveOven-Gas Cooling Wall Unit(S) Equipment Range/OvenGarbage DisposalMicrowaveDryerWasherRefrigerator Flooring Mixed Heating Wall Interior Features Laundry - Closet Stacked Laundry In UnitLaundry Closet Stacked Water Heater Features Gas

Property Features

Gross Income 53172 Gross Operating Income 53172 Insurance Expense 1600.00 Like Units1 1 Like Units2 1 Like Units3 1 Like Units4 1 Maintenance Expense 3828.00 Net Operating Income 38232.00 Number Of Buildings 1 Number Of Units 4 Rent Control YN Yes Sale Type Standard Security Features Carbon Monoxide Detector(S)Fire And Smoke Detection SystemOther Sewer In Street Source Living Area Assessor Source Lot Size Area Assessor Tenant Pays ElectricityGasWaterTrash CollectionOtherCable Tv Total Annual Expense 14940 TVServices Cable Tv Type Of Units Fourplex Water Water District Water Heaters YN Yes Year Built Source Assessor Zoning Lar4

Listing provided courtesy of Reymond Weddle DRE#02094160 of Compass.


Based on information from the Combined LA/Westside Multiple Listing Service as of 2021-12-08T20:43:15.333. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
 
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