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1063 E 49th Place

Los Angeles (City), CA 90011
  • $998,000
  • STATUS: Pending
  • ON SITE: 92 Days
  • ID#: SB22062199
Pending
UPDATED: 35 min ago
$998,000
  • 0
    BEDS
  • 0.14
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
Built:
1922
County:

School Ratings & Info

Listing Agent(s): Austin Longwell of Lyon Stahl Investment Real Estate, Inc. (310-425-9838) and Evelyn Baez Gonzalez of Lyon Stahl Investment Real Estate, Inc.(310-425-9838)


Description

BACK ON MARKET with over $150,000 worth of improvements and updated pricing!We 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. Owner has made massive improvements in the last year including but not limited to 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.

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Based on information from California Regional Multiple Listing Service, Inc. as of 2022-06-30T11:31:24.09. 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 Zen Ziejewski and Team | Keller Williams Realty. Licensed in the State of California, USA.
www.homefinderorangecounty.com/homes/127175910
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1063 E 49th Place Los Angeles (City), CA 90011

  • Price: $998,000
  • Status: Pending
  • On Site: 92 Days
  • Updated: 35 min ago
  • ID#: SB22062199
0
Beds
0
Baths
0
½ Baths
0.14
Acres
1922
Built
Neighborhood:
C42 - Downtown L.A.
County:
Los Angeles
Area:
C42 - Downtown L.A.
Property Description
BACK ON MARKET with over $150,000 worth of improvements and updated pricing!We 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. Owner has made massive improvements in the last year including but not limited to 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.
Exterior Features

Lot Features 0-1 Unit/Acre Number Of Separate Electric Meters 4 Open Parking Spaces 10 Parking Features AssignedConcreteGated Parking Total 10 Pool Features None Pool Private YN No Property Attached YN Yes

Interior Features

Common Walls 2+ Common Walls

Property Features

Additional Parcels YN No Cap Rate 4.99 Common Interest None Community Features CurbsSidewalksValley Electric Expense 800 Garage YN No Gross Income 75131 Gross Scheduled Income 75131 Insurance Expense 1661 Land Lease YN No Laundry Features Electric Dryer HookupGas Dryer HookupInside Levels Two Listing Agreement Exclusive Right To Sell Listing Service Full Service Listing Terms CashConventionalContract1031 Exchange Net Operating Income 49833 New Construction YN No New Taxes Expense 12475 Number Of Separate Gas Meters 4 Number Of Separate Water Meters 1 Number Of Units Leased 4 Operating Expense 21541 Pest Control Expense 800 Possession Close Of Escrow Property Sub Type Quadruplex Rent Control YN No Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Tenant Pays ElectricityGasParking Fee Total Actual Rent 6261 Trash Expense 800 Vacancy Allowance Rate 5 Water Sewer Expense 800 Water Source Public Zoning Lac2



Based on information from California Regional Multiple Listing Service, Inc. as of 2022-06-30T11:31:24.09. 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 Zen Ziejewski and Team | Keller Williams Realty. Licensed in the State of California, USA.
 
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Zen Ziejewski and Team | Keller Williams Realty
27101 Puerta Real #150
Mission Viejo CA, 92691
Listing Agent(s): Austin Longwell of Lyon Stahl Investment Real Estate, Inc. (310-425-9838) and Evelyn Baez Gonzalez of Lyon Stahl Investment Real Estate, Inc.(310-425-9838)