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$ 1,950,000
Est. payment | /mo
8 Beds
4 Baths
6,252 Sqft Lot
$ 1,950,000
Est. payment | /mo
8 Beds
4 Baths
6,252 Sqft Lot
Key Details
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Active
Purchase Type For Sale
MLS Listing ID SR26243056
Bedrooms 8
Lot Size 6,252 Sqft
Property Sub-Type Res Income 2-4 Units
Property Description
**PRIME BEVERLY GROVE FOUR-UNIT INVESTMENT OPPORTUNITY | $1,950,000** Rare opportunity to acquire a four-unit multifamily investment in the highly desirable Beverly Grove neighborhood of Los Angeles. Situated on a 6,252 sq. ft. lot, this property features approximately 5,408 sq. ft. of building area with four spacious 2-bedroom, 1-bathroom units. The property currently generates $8,350 in monthly rental income, with one unit to be delivered vacant at close of escrow, offering an immediate opportunity to establish market rent and enhance cash flow. The vacant unit is projected to achieve approximately $3,295 per month, bringing potential stabilized gross rental income to approximately $11,645 monthly or $139,740 annually. Based on projected income and estimated annual operating expenses of $36,757, the property offers an estimated stabilized NOI of $102,983 and an approximate 5.28% cap rate at the asking price. The property's LAR3 zoning also provides an opportunity to explore additional development potential, including possible ADU opportunities, subject to zoning, city approvals and feasibility. Ideally positioned in the heart of Beverly Grove, the property boasts a Walk Score of 80 and convenient access to Whole Foods Market, The Grove, Original Farmers Market, LACMA, Petersen Automotive Museum, Beverly Center, Melrose Avenue and the El Rey Theatre. The location also offers proximity to public transportation and the Metro D Line (Purple Line) extension, providing future connectivity between the Westside and Downtown Los Angeles. Combining an established rental portfolio,
Location
State CA
County Los Angeles
Zoning Assessor
Direction One block North of Wilshire between Sweetzer Ave and La Jolla
Interior
Cooling Wall/Window
Fireplace No
Exterior
View Y/N No
Building
Story 2
Level or Stories 2
Others
Senior Community No
Tax ID 5510023036
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Listed by Bryan Canchola, DRE#01932632 Sync Brokerage, Inc.
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