4959 Romaine Street

    Los Angeles (City), CA 90029
    • $7,500,000
    • STATUS: Active Under Contract
    • ON SITE: 194 days
    • ID#: 19530150
    Under Contract
    $7,500,000
    • 0
      BEDS
    • N/A
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1956
    County:

    School Ratings & Info

    Description

    Built in 1956, this 20-unit property is located on a 15,599 SF lot in the East Hollywood neighborhood of Los Angeles. The two-story building features 18 one-bedroom units and two three-bedrooms units, all with spacious floor plans and sophisticated interior finishes.All the units have undergone extensive renovations, including in-unit washers and dryers, hardwood flooring, custom cabinetry as well as high-end appliances. The property is separately metered for gas and electric and has eighteen parking spaces.This offering presents an investor the opportunity to purchase a stabilized asset with market rents and extensive renovations, providing passive income in a market that has shown consistent growth in population and rents year over year. There are no long-term tenants as all of the units have been leased within the past twelve months.

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2020-05-27T00:26:52.123. 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/100959186

    4959 Romaine Street Los Angeles (City), CA 90029

    • Price: $7,500,000
    • Status: Active Under Contract
    • ID#: 19530150
    0
    Beds
    0
    Baths
    0
    ½ Baths
    N/A
    Acres
    1956
    Built
    Neighborhood:
    C20 - Hollywood
    County:
    Los Angeles
    Area:
    C20 - Hollywood
    Property Description
    Built in 1956, this 20-unit property is located on a 15,599 SF lot in the East Hollywood neighborhood of Los Angeles. The two-story building features 18 one-bedroom units and two three-bedrooms units, all with spacious floor plans and sophisticated interior finishes.All the units have undergone extensive renovations, including in-unit washers and dryers, hardwood flooring, custom cabinetry as well as high-end appliances. The property is separately metered for gas and electric and has eighteen parking spaces.This offering presents an investor the opportunity to purchase a stabilized asset with market rents and extensive renovations, providing passive income in a market that has shown consistent growth in population and rents year over year. There are no long-term tenants as all of the units have been leased within the past twelve months.
    Exterior Features

    Lot Size Source Assessor Parking Features Covered Parking YN Yes

    Interior Features

    Appliances Refrigerator Appliances YN Yes

    Property Features

    Gross Income 605088.00 Gross Multiplier 12.39 Gross Operating Income 574834.00 Net Operating Income 382309.00 Senior Community YN No Special Listing Conditions Standard Total Actual Rent 50149.00 Zoning Lar3

    Listing provided courtesy of Neema Ahadian of Marcus & Millichap


    Based on information from California Regional Multiple Listing Service, Inc. as of 2020-05-27T00:26:52.123. 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.

     
    The Marelly Group | Compass
    5256 South Mission Rd, Suite 1006
    Bonsall CA, 92003