5847 Ernest Ave, Los Angeles, CA 90034

5847 Ernest Ave, Los Angeles, CA 90034

Los Angeles, CA

Property Description

5847 Ernest Ave is a clean 4-unit building located in the sought-after Palms/Culver community. The building was built in 1924 and consists of 3,210 SF of living space situated on a 5,000 SF lot. The property offers a great unit mix consisting of (4) 1-bed/1-bath units. The property has been well maintained and features a 2-car garage. This is an excellent opportunity for a potential investor to obtain 30-year fixed residential financing while rates are at a historical low. Located in the Palms/Culver neighborhood of Los Angeles, 5847 Ernest Ave is an excellent owner-user buy, allowing for an owner to live in one unit and enjoy the top of the market rental income from the others.

Property Features

  • Sale Price: $1,450,000
  • Area Size: 3,210 SF
  • Land Area: 5,000 SF
  • Year Built: 1924
  • Listing Date: 10/27/2020
  • Closing Date: 5/27/2021
  • Units: 4
  • Current GRM: 16.78
  • Current Cap Rate: 3.86%
  • Price Per Unit: $362,500
  • Market GRM: 16.78
  • Market Cap Rate: 3.86%
  • Current NOI: $55,960

Lyon Stahl Investment Real Estate

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