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841 W 74Th Street

Los Angeles (City), CA 90044
  • $599,000
  • STATUS: Active Under Contract
  • ON SITE: 112 days
  • ID#: 21715822
Under Contract
UPDATED: 86 min ago
$599,000
  • 0
    BEDS
  • 0.12
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 2,238
    SQFT
  • $268
    $/SQFT
Type:
Multi-Family
Built:
1910
County:

School Ratings & Info

Description

We are pleased to present this bite size deal in South Los Angeles. This 4-unit property sits on a 5,602 sq.ft lot (0.13 acres), has a total building size of 2,238 sq.ft., and boasts a good unit mix of (2) 1-bed/1-bath units, (1) 2-bed/1-bath ADU, and (1) 3-bed/1-bath house. This property is currently 3 legal units with 1 non-conforming unit which is a converted garage. However, the Seller has just received fully approved RTI plans to legally convert the nonconforming unit to a legal ADU. The seller will be selling this property as-is, and the Buyer will be responsible for completing the ADU conversion. The Seller has received bids to complete this ADU work, and the cost will be between $50,000 to $60,000.Therefore, the buyer of this property should expect a total investment of up to $659,000 including the purchase price and ADU conversion cost. At this total cost, the buyers effective CAP rate will be 5.22% with the long-term value add potential of over 35% upside in rents. If the buyer was able to get all of the units to our very achievable market rents, the buyer will be able to achieve an extremely desirable 8.50% CAP rate and an estimated 17.81% cash-on-cash return!

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Based on information from California Regional Multiple Listing Service, Inc. as of 2021-07-28T18:29:14.777. 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/115820292
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841 W 74Th Street Los Angeles (City), CA 90044

  • Price: $599,000
  • Status: Active Under Contract
  • Updated: 86 min ago
  • ID#: 21715822
0
Beds
0
Baths
0
½ Baths
0.12
Acres
2,238
SQFT
$268
$/SQFT
1910
Built
Neighborhood:
C36 - Metropolitan Southwest
County:
Los Angeles
Area:
C36 - Metropolitan Southwest
Property Description
We are pleased to present this bite size deal in South Los Angeles. This 4-unit property sits on a 5,602 sq.ft lot (0.13 acres), has a total building size of 2,238 sq.ft., and boasts a good unit mix of (2) 1-bed/1-bath units, (1) 2-bed/1-bath ADU, and (1) 3-bed/1-bath house. This property is currently 3 legal units with 1 non-conforming unit which is a converted garage. However, the Seller has just received fully approved RTI plans to legally convert the nonconforming unit to a legal ADU. The seller will be selling this property as-is, and the Buyer will be responsible for completing the ADU conversion. The Seller has received bids to complete this ADU work, and the cost will be between $50,000 to $60,000.Therefore, the buyer of this property should expect a total investment of up to $659,000 including the purchase price and ADU conversion cost. At this total cost, the buyers effective CAP rate will be 5.22% with the long-term value add potential of over 35% upside in rents. If the buyer was able to get all of the units to our very achievable market rents, the buyer will be able to achieve an extremely desirable 8.50% CAP rate and an estimated 17.81% cash-on-cash return!
Property Features

Gross Income 56448 Listing Agreement Seller Reserved Listing Service Full Service Net Operating Income 35181 Senior Community YN No Special Listing Conditions Standard Vacancy Allowance Rate 0 Zoning Lard2

Listing provided courtesy of Filip Niculete of Marcus & Millichap


Based on information from California Regional Multiple Listing Service, Inc. as of 2021-07-28T18:29:14.777. 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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