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1457 W 84th Place, Los Angeles, CA 90047

$688,000

Description

Lyon Stahl is pleased to present 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. At our $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. 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.

Investment Highlights:
● 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.

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Address

  • City: Los Angeles
  • State/county: CA
  • Country: United States

Detail

Updated on November 2, 2018 at 3:58 pm

  • Price: $688,000
  • Property Size: 2,363 Sq Ft
  • Land Area: 6,713 Sq Ft
  • Garage Size: 6
  • Year Built: 1950
  • Property Type: Multifamily
  • Property Status: Pending Sale, Active
  • Numbers of Units: 3
  • NOI: $53,213
  • GRM: 9.56
  • CAP RATE: 7.73%
  • Price per Unit: $229,333.33

Contact info

Matt Dunfrund
Matt Dunfrund
(424) 330-2015(310) 367-9666
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