1063 E 49th Pl, Los Angeles, CA 90011

1063 E 49th Pl, Los Angeles, CA 90011

Los Angeles, CA
$998,000

Property Description

Austin Longwell and Evelyn Baez of Lyon Stahl Investment Real Estate are proud to present this C2-Zoned, 4plex in Central Alameda located just minutes away from USC, SoFi Stadium, DTLA, the Fashion District, and many of LA’s best attractions. This large 3,321 square foot two-story 4plex was built in 1922 and has a unit mix consisting of (4) 2 bed 1 bath units. The building is sitting on a double-wide 5,912 square foot lot with a total of 10 parking spaces around the building. There is also an additional driveway that is leased out for additional parking/storage on this very large lot poised for future additions such as ADU’s, or Commercial/mixed-use redevelopment. There are laundry hook-ups in each unit, (10) parking spaces, 2nd story balconies, a fruit-bearing garden, and a gated yard with alleyway access. The owner has made massive improvements in the last year including but not limited to a new roof, new main lines, stucco, paint, and insulated windows leaving virtually no maintenance for the new owner. All tenants are on month-to-month leases providing owner users or investors incredible upside in rents and a potential to generate a 9.05% Pro-forma cap rate.

 

INVESTMENT HIGHLIGHTS
• Excellent Unit Mix of large 2 Bedroom Units
• Each Unit has Individual Laundry hookups
• Double wide lot features 10 Parking Spaces and additional
leased out driveway parking.
• $150,000 of Renovations recently completed including: Roof,
Stucco, Windows, and more.
• C2 -ZONING; Tier 2 TOC; Poised for development or additional
ADU’s

Property Features

  • Sale Price: $998,000
  • Area Size: 3,321 SF
  • Land Area: 5,912 SF
  • Year Built: 1922
  • Listing Date: March 29, 2022
  • Units: 4
  • Current GRM: 13.28
  • Current Cap Rate: 4.99%
  • Market GRM: 8.48
  • Market Cap Rate: 9.05%

Lyon Stahl Investment Real Estate

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