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2945 W 11Th Street

Los Angeles (City), CA 90006
  • $999,000
  • STATUS: Active
  • ON SITE: 215 Days
  • ID#: 21725564
$999,000
  • 0
    BEDS
  • 0.05
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
Built:
1923
County:

School Ratings & Info

Listing Agent: Reymond Weddle of Compass


Description

**MAJOR PRICE REDUCTION & no COVID rent delinquency** Welcome to an exciting opportunity for the right investor! Located within one of Los Angeles's coveted Opportunity Zones, this property is well positioned for major upward redevelopment. Centrally and conveniently located, this 4-plex has immediate access to the 10 Freeway and the METRO Purple Line while also being just a stone's throw to Koreatown's many cultural delights. The current owners have well maintained this steady-income property. 4-plex is currently 100% occupied. Currently a 3.48% CAP Rate, pro forma leases potentially bring the CAP Rate closer to 5%, even with a city reassessment. Each unit is independently metered and tenants currently pay for all expenses including water, gas, electricity, trash, and cable service. Truly an investor's dream, don't wait! **Buyer is advised to independently verify all CAP Rates, investment calculations, and other associated information.

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Based on information from California Regional Multiple Listing Service, Inc. as of 2021-12-08T00:26:55.663. 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 The Marelly Group | Sentry Residential. Licensed in the State of California, USA.
www.themarellygroup.com/homes/116856048
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2945 W 11Th Street Los Angeles (City), CA 90006

  • Price: $999,000
  • Status: Active
  • On Site: 215 Days
  • ID#: 21725564
0
Beds
0
Baths
0
½ Baths
0.05
Acres
1923
Built
Neighborhood:
C17 - Mid-Wilshire
County:
Los Angeles
Area:
C17 - Mid-Wilshire
Property Description
**MAJOR PRICE REDUCTION & no COVID rent delinquency** Welcome to an exciting opportunity for the right investor! Located within one of Los Angeles's coveted Opportunity Zones, this property is well positioned for major upward redevelopment. Centrally and conveniently located, this 4-plex has immediate access to the 10 Freeway and the METRO Purple Line while also being just a stone's throw to Koreatown's many cultural delights. The current owners have well maintained this steady-income property. 4-plex is currently 100% occupied. Currently a 3.48% CAP Rate, pro forma leases potentially bring the CAP Rate closer to 5%, even with a city reassessment. Each unit is independently metered and tenants currently pay for all expenses including water, gas, electricity, trash, and cable service. Truly an investor's dream, don't wait! **Buyer is advised to independently verify all CAP Rates, investment calculations, and other associated information.
Exterior Features

Architectural Style Spanish Number Of Separate Electric Meters 4 Parking Features On Street Parking Total 0 Pool Features None Pool Private YN No Roof Composition Spa Features None Spa YN No

Interior Features

Appliances Gas CooktopDisposalGas OvenMicrowaveRefrigeratorDryerWasher Heating Wall Furnace Heating YN Yes

Property Features

Association Fee 0 Disclosures Rent Control Gross Income 53172 Insurance Expense 1600 Laundry Features Stacked Levels Two Listing Agreement Exclusive Right To Sell Listing Service Full Service Listing Terms CashConventional Maintenance Expense 3828 Net Operating Income 38232 New Construction YN No New Taxes Expense 9172 Number Of Separate Gas Meters 4 Number Of Separate Water Meters 4 Number Of Units Leased 4 Rent Control YN Yes Security Features Carbon Monoxide Detector(S)Fire Detection SystemSmoke Detector(S) Senior Community YN No Sewer Other Special Listing Conditions Standard Tenant Pays Cable TvElectricityGasOtherTrash CollectionWater Zoning Lar4



Based on information from California Regional Multiple Listing Service, Inc. as of 2021-12-08T00:26:55.663. 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 The Marelly Group | Sentry Residential. Licensed in the State of California, USA.
 
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The Marelly Group | Sentry Residential
5256 South Mission Rd, Suite 1006
Bonsall CA, 92003
Listing Agent: Reymond Weddle of Compass