3711 Monterey Road

    El Sereno, CA 90032
    • $725,000
    • STATUS: Active
    • ON SITE: 338 days
    • ID#: PF18252109
    UPDATED: 58 min ago
    $725,000
    • 0
      BEDS
    • 0.17
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 2,129
      SQFT
    • $341
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1938
    County:

    School Ratings & Info

    Description

    RENT INCREASED - new Cap Rate: 3.6% - Prime El Sereno triplex recently upgraded and fully-leased. Located on Monterey Road south of Hermon, east of Debbs Park, and tucked between the Monterey Hills and Rose Hills. This 3-unit property is priced like an SFR, so it has solid long term potential. Listed for less than $242K per unit, this triplex consists of a stand alone SFR which is a 2 bedroom/1 bath home (approx. 921 SF) and two-1 bedroom/1 bath units (approx. 604 SF each). All three units have well-designed and spacious floor plans, as well as laundry hook-ups in each unit. The front building is a side-by-side duplex (built in 1938) with a grass yard behind it, the back house is a stand alone SFR (built in 1952). Seller has recently invested into valuable improvements, including new shower stalls/tubs/tile in front unit bathrooms, as well as new windows in the west unit. Seller also renovated exterior of all buildings and improved the landscaping in November 2018. There is also a two-car detached garage between the dwellings that is perfect for leasing out to tenants for additional income, the garage is currently used by landlord for storage. Gross rental income is currently $3,646 per month/$43,752 per year (additional requested rent increase for SFR is in review by HACLA). LA County records show combined SF at 2,129 for the 3 units, the lot is approximately 7,540 SF. This multi-unit property provides an excellent buy-and-hold opportunity for an astute investor.

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2019-09-22T11:43:31.403. 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 | Compass. Licensed in the State of California, USA.
    www.themarellygroup.com/homes/88642201

    3711 Monterey Road El Sereno, CA 90032

    • Price: $725,000
    • Status: Active
    • Updated: 58 min ago
    • ID#: PF18252109
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.17
    Acres
    2,129
    SQFT
    $341
    $/SQFT
    1938
    Built
    Neighborhood:
    621 - El Sereno
    County:
    Los Angeles
    Area:
    621 - El Sereno
    Property Description
    RENT INCREASED - new Cap Rate: 3.6% - Prime El Sereno triplex recently upgraded and fully-leased. Located on Monterey Road south of Hermon, east of Debbs Park, and tucked between the Monterey Hills and Rose Hills. This 3-unit property is priced like an SFR, so it has solid long term potential. Listed for less than $242K per unit, this triplex consists of a stand alone SFR which is a 2 bedroom/1 bath home (approx. 921 SF) and two-1 bedroom/1 bath units (approx. 604 SF each). All three units have well-designed and spacious floor plans, as well as laundry hook-ups in each unit. The front building is a side-by-side duplex (built in 1938) with a grass yard behind it, the back house is a stand alone SFR (built in 1952). Seller has recently invested into valuable improvements, including new shower stalls/tubs/tile in front unit bathrooms, as well as new windows in the west unit. Seller also renovated exterior of all buildings and improved the landscaping in November 2018. There is also a two-car detached garage between the dwellings that is perfect for leasing out to tenants for additional income, the garage is currently used by landlord for storage. Gross rental income is currently $3,646 per month/$43,752 per year (additional requested rent increase for SFR is in review by HACLA). LA County records show combined SF at 2,129 for the 3 units, the lot is approximately 7,540 SF. This multi-unit property provides an excellent buy-and-hold opportunity for an astute investor.
    Exterior Features

    Architectural Style Traditional Construction Materials StuccoWood Siding Direction Faces East Entry Level 1 Entry Location 1 Exterior Features Satellite Dish Fence YN Yes Fencing BlockChain LinkWood Foundation Details RaisedSlab Garage Spaces 2.00 Lot Features 0-1 Unit/AcreCorners MarkedFront YardLot 6500-9999Rectangular LotLevelNear Public TransitPark NearbySprinklers NoneUp Slope From StreetUtilities - OverheadYard Lot Size Dimensions 50' Wide X 150' Depth Lot Size Source Assessor Lot Size Units Square Feet Parking Features AssignedDrivewayConcreteUnpavedDriveway Up Slope From StreetGarage - Two DoorOn SiteShared DrivewayUncovered Parking Total 4.00 Parking YN Yes Pool Features None Pool Private YN No Property Attached YN Yes Road Frontage Type City Street Road Surface Type Paved Roof CompositionShingle Spa Features None Spa YN No

    Interior Features

    Appliances Gas Water HeaterWater Heater Appliances YN Yes Average Studio Area Units Square Feet Average1 Bed Area 604 Average1 Bed Area Units Square Feet Average2 Bed Area 921 Average2 Bed Area Units Square Feet Average3 Bed Area Units Square Feet Common Walls 1 Common Wall Cooling Wall/Window Unit(S) Cooling YN Yes Flooring CarpetLaminateTile Heating Wall Furnace Heating YN Yes Interior Features Granite CountersTile Counters Laundry Features Individual Room Levels One Room Type KitchenLiving Room

    Property Features

    Additional Parcels YN No Association Fee 0.00 Association YN No Building Area Units Square Feet Cap Rate 3.60 Community Features CurbsGuttersSidewalksStreet LightsUrban Country Us Electric Standard Electric Expense 0.00 Elevation Units Feet Gardener Expense 1210.00 Gross Income 43752.00 Gross Multiplier 16.50 Gross Operating Income 43752.00 Gross Scheduled Income 43752.00 Insurance Expense 1700.00 Land Lease YN No Laundry Income 0.00 Laundry YN Yes Lot Dimensions Source Estimated Maintenance Expense 651.00 Net Operating Income 25895.00 New Construction YN No New Taxes Expense 9363.00 Number Of Separate Electric Meters 3 Number Of Separate Gas Meters 3 Number Of Separate Water Meters 1 Number Of Units Leased 3 Operating Expense 17857.00 Property Sub Type Triplex Rent Control YN Yes Security Features Carbon Monoxide Detector(S)Smoke Detector(S)Window Bars Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Tenant Pays Cable TvElectricityGasTelephone Total Actual Rent 3489.00 Total Expenses 17857.00 Trash Expense 0.00 Utilities Cable ConnectedElectricity ConnectedNatural Gas ConnectedSewer ConnectedWater Connected Water Sewer Expense 4933.00 Water Source Public Year Built Source Assessor Zoning Lard3

    Listing provided courtesy of James Tripodes of Compass


    Based on information from California Regional Multiple Listing Service, Inc. as of 2019-09-22T11:43:31.403. 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 | Compass. Licensed in the State of California, USA.
     
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