Just Closed – Triplex in Los Angeles | $689,000
Matt Dunfrund of Lyon | Stahl Investment Real Estate is proud to have closed 1457 W 84th Place, 3 units in Los Angeles!
Lyon Stahl is pleased to have closed this well-located triplex at 1457 W. 84th Place, LA 90047. Featuring a front duplex with two 2+1 units currently operating as short-term rentals for $2,500/mth each, and then there’s a detached 1+1 home currently rented for $1,000/mth for a current gross income of $6,000/mth; $72,000/year. Assuming 30% down ($206,400) & estimated operating expenses of $15,187/yr, the current cash flow would be approx. $23,066/yr (an 11.18% return). This property would also make a great owner-user investment with the ability to occupy one of the 2+1 units & also have two great rental units to help pay your mortgage. The property is conveniently located close to great parks like St. Andrews Recreation Center & Circle Park, and also only a short drive from La Salle Avenue Elementary & Bret Harte Prep Middle School. There are a ton of national retailers locally as well with Ralphs; Chase Bank; Smart & Final; Superior Grocers, and a large Kaiser Permanente Hospital all only minutes away.
● 3 Unit Cash Cow with current gross income of $6,000/mth; $72,000/yr… Assuming 30% down, the property’s current cash flow is approx. $23,066/yr (an 11.18% current return)
● The owner has been very successfully renting both 2 Bedroom units fully furnished as short-term rentals (typical stays of 1-3 months) to corporate professionals from SpaceX; local South Bay aerospace companies, and pilots/airline employees etc from LAX & has been averaging rent of $2,500/mth for each unit.
● At the $688,000 asking price, the property is priced at: $229,333/unit; a 9.56 current GRM; a 7.73% current CAP, and $291/SF.
● Solid unit mix with a front duplex featuring two 2+1 units & then a detached 1+1 home with 2,363 total rentable SF on a large 6,713 SF corner lot (zoned RD2)
● Fantastic rapidly appreciating location in the Gramercy Park section of LA (90047), located just east of Inglewood & only 2 miles from the new Rams/Chargers Stadium; the Forum, and massive new Hollywood Park redevelopment so rental rates should continue growing over the coming years.