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142 S Lake Street

Los Angeles (City), CA 90057
  • $1,648,800
  • STATUS: Active
  • ON SITE: 120 Days
  • ID#: IG21164584
UPDATED: 72 min ago
$1,648,800
  • 0
    BEDS
  • 0.14
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Commercial
Built:
1947
County:

School Ratings & Info

Listing provided courtesy of Cindy Tashima of Berkshire Hathaway Homeservices California Realty and Vinod Desar of

Description

Excellent Investment Opportunity in a RARE 5 Unit Multifamily development in Historic Filipino Town. This property is surrounded by Westlake Village to the North, Rampart Village to the West, MacArthur Park to the South and the Walt Disney Concert Hall to the East. It's 6 minutes from the downtown financial district. There is one 2 bedroom, 1 bath unit (approx.. 740 sq.ft.) and four 1 bedroom 1 bath units (approx.. 440 sq.ft. each). All units are individually metered and water is paid by the landlord. There are 4-5 parking spaces in the rear of the property accessed through an alleyway. New attic and crawl space insulation installed throughout. New ABS main drain pipe from back of property to street. Two remodeled units occupied by neat and considerate long-term tenants. Three 1 bedroom units will be delivered without tenants. Great Value Add Opportunity.

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Based on information from California Regional Multiple Listing Service, Inc. as of 2021-12-02T00:26:48.187. 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 Twiss Realty. Licensed in the State of California, USA.
www.twissrealty.com/homes/119976092
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142 S Lake Street Los Angeles (City), CA 90057

  • Price: $1,648,800
  • Status: Active
  • On Site: 120 Days
  • Updated: 72 min ago
  • ID#: IG21164584
0
Beds
0
Baths
0
½ Baths
0.14
Acres
1947
Built
Neighborhood:
C16 - Mid Los Angeles
County:
Los Angeles
Area:
C16 - Mid Los Angeles
Property Description
Excellent Investment Opportunity in a RARE 5 Unit Multifamily development in Historic Filipino Town. This property is surrounded by Westlake Village to the North, Rampart Village to the West, MacArthur Park to the South and the Walt Disney Concert Hall to the East. It's 6 minutes from the downtown financial district. There is one 2 bedroom, 1 bath unit (approx.. 740 sq.ft.) and four 1 bedroom 1 bath units (approx.. 440 sq.ft. each). All units are individually metered and water is paid by the landlord. There are 4-5 parking spaces in the rear of the property accessed through an alleyway. New attic and crawl space insulation installed throughout. New ABS main drain pipe from back of property to street. Two remodeled units occupied by neat and considerate long-term tenants. Three 1 bedroom units will be delivered without tenants. Great Value Add Opportunity.
Exterior Features

Carport Spaces 1 Carport YN Yes Construction Materials Blown-In InsulationStucco Fencing Chain LinkWood Lot Features Front YardRectangular Lot Open Parking Spaces 3 Parking Total 4 Roof Composition Sign On Property YN Yes

Property Features

Additional Parcels YN No Cap Rate 4.81 Common Interest None Current Financing None Electric Electricity - On Property Gross Scheduled Income 101760 Insurance Expense 3001 Land Lease YN No Laundry Features Common Area Listing Agreement Exclusive Right To Sell Listing Service Full Service Listing Terms CashCash To New LoanConventional1031 Exchange Net Operating Income 89167 Number Of Units Leased 5 Operating Expense 6934 Other Expense 328 Property Sub Type Multi Family Special Listing Conditions Standard Tax Annual Amount 2159 Tax Year 2020 Utilities Cable AvailableElectricity ConnectedNatural Gas ConnectedPhone AvailableSewer ConnectedWater ConnectedOverhead Utilities Vacancy Allowance 3500 Water Sewer Expense 1446 Water Source Public Zoning Lar3



Based on information from California Regional Multiple Listing Service, Inc. as of 2021-12-02T00:26:48.187. 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 Twiss Realty. Licensed in the State of California, USA.
 
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Twiss Realty
5071-A Cole Road
Mariposa CA, 95338
Listing provided courtesy of Cindy Tashima of Berkshire Hathaway Homeservices California Realty and Vinod Desar of