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    1/2 BATHS
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Listing Details

Status
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On Site
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MLS #
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Type
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School Ratings & Info

Description

We are pleased to present an Excellent 2 story building in the West Adams area of LA. The 4 unit building consists of (Three) 2Bedroom/1Bathroom units and (one) 2 bedroom/2 bathroom townhouse style unit. Owner's Unit can be delivered vacant for an owner-user opportunity. New roof installed 3 years ago, copper plumbing, freshly painted exterior. Two of the units have remodeled kitchens and bathrooms. The property was built in 1963 and has approximately 3668 sq/ft living area per assessor. Each unit is separately metered and has its own individual water heater. Current rents are 30% below market, providing an investor with a more aggressive management style, the ability to raise rents and achieve higher return on their investment. The Subject Property is Located in a Opportunity Zone and May be Eligible for Preferential Tax Treatment. The West Adams Neighborhood is a rapidly growing urban area with the LA Metro Rail nearby providing quick transportation from Santa Monica to Downtown LA. West Adams is close to Culver City, Santa Monica, Beverly hills and Downtown LA. See Offering Memorandum in supplements.

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Based on information from California Regional Multiple Listing Service, Inc. as of 2021-09-19T18:26:50.17. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or RE/MAX Freedom. Licensed in the State of California, USA.
www.homesinthehighdesert.com/homes/119585968
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5447 Geer Street Los Angeles (City), CA 90016

  • Price: $1,775,000
  • Status: Active
  • Updated: 36 min ago
  • ID#: SR21160111
0
Beds
0
Baths
0
½ Baths
0.11
Acres
1963
Built
Neighborhood:
C16 - Mid Los Angeles
County:
Los Angeles
Area:
C16 - Mid Los Angeles
Property Description
We are pleased to present an Excellent 2 story building in the West Adams area of LA. The 4 unit building consists of (Three) 2Bedroom/1Bathroom units and (one) 2 bedroom/2 bathroom townhouse style unit. Owner's Unit can be delivered vacant for an owner-user opportunity. New roof installed 3 years ago, copper plumbing, freshly painted exterior. Two of the units have remodeled kitchens and bathrooms. The property was built in 1963 and has approximately 3668 sq/ft living area per assessor. Each unit is separately metered and has its own individual water heater. Current rents are 30% below market, providing an investor with a more aggressive management style, the ability to raise rents and achieve higher return on their investment. The Subject Property is Located in a Opportunity Zone and May be Eligible for Preferential Tax Treatment. The West Adams Neighborhood is a rapidly growing urban area with the LA Metro Rail nearby providing quick transportation from Santa Monica to Downtown LA. West Adams is close to Culver City, Santa Monica, Beverly hills and Downtown LA. See Offering Memorandum in supplements.
Exterior Features

Carport Spaces 4 Carport YN Yes Lot Features 0-1 Unit/AcreFront YardPavedRectangular LotSprinklers None Number Of Separate Electric Meters 5 Parking Total 5 Pool Features None Pool Private YN No Property Attached YN Yes

Interior Features

Common Walls 2+ Common Walls

Property Features

Additional Parcels YN No Common Interest None Community Features CurbsGutter(S)Storm Drain(S)Street LightsSidewalks Electric Expense 0 Fuel Expense 0 Garage YN Yes Gross Income 80898 Gross Scheduled Income 83400 Insurance Expense 1500 Land Lease YN No Laundry Features None Levels Two Listing Agreement Exclusive Right To Sell Listing Service Full Service Listing Terms CashCash To New Loan Maintenance Expense 1200 Net Operating Income 68646 New Construction YN No New Taxes Expense 22438 Number Of Separate Gas Meters 0 Number Of Separate Water Meters 1 Operating Expense 12252 Rent Control YN Yes Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Trash Expense 0 Water Sewer Expense 2126 Water Source Public Zoning Lard1.5

Listing provided courtesy of Anie Mayelian of Keller Williams Encino-Sherman Oaks


Based on information from California Regional Multiple Listing Service, Inc. as of 2021-09-19T18:26:50.17. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or RE/MAX Freedom. Licensed in the State of California, USA.
 
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RE/MAX Freedom
12180 Ridgecrest Rd. Building E Ste. 522
Victorville CA, 92395