$1,360,000
$1,375,000
1.1%For more information regarding the value of a property, please contact us for a free consultation.
7 Beds
8 Baths
5,656 SqFt
SOLD DATE : 09/25/2024
Key Details
Sold Price $1,360,000
Property Type Multi-Family
Sub Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Square Footage 5,656 sqft
Price per Sqft $240
MLS Listing ID 24-382455
Sold Date 09/25/24
Bedrooms 7
Year Built 1923
Lot Size 5,538 Sqft
Acres 0.1219
Property Description
This property is priced to sell! Only $243/SF! Listed at 11.74 GRM on current rents, a 6.13% CAP rate, and plenty of room to grow on rents, this is an excellent opportunity for an investor who wants to own a cash flowing property in an irreplaceable area. Call for a full marketing package w/financials. Welcome to East Los Angeles, a warm and vibrant community rich with cultural history and deep roots. The subject property is a well known local gem situated along one of the most well known blocks east of the 710 Fwy. It sits directly across from the famous La Azteca Tortilleria and adjacent to the historic El Gallo Plaza and the landmark Our Lady of Soledad Church. Also nearby are Cities Nightclub and El Gallo Restaurant and Bakery. The offering includes two structures: The front structure features 2 ground floor retail storefronts and a large 2nd floor 3Br apartment with patio. In the rear is a separate quadruplex with all 1Br+1Ba apts. Given that this is unincorporated Los Angeles, the 5 units are not subject to City of LA Rent Control, only County of LA. All in all, this is an incredible opportunity to purchase an iconic piece of East LA history.
Location
State CA
County Los Angeles
Area East La
Zoning LCC3*
Rooms
Other Rooms None
Interior
Heating Wall Gas
Cooling Wall Unit(s)
Flooring Mixed, Stained Concrete, Engineered Hardwood, Cement
Fireplaces Type None
Equipment Garbage Disposal
Laundry None
Exterior
Garage None
Pool None
Waterfront Description None
View Y/N No
View None
Building
Story 2
Sewer In Connected and Paid
Water Public
Level or Stories Two
Structure Type Brick, Stucco
Others
Special Listing Condition Standard
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The multiple listings information is provided by The MLSTM/CLAW from a copyrighted compilation of listings. The compilation of listings and each individual listing are ©2024 The MLSTM/CLAW. All Rights Reserved.
The information provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All properties are subject to prior sale or withdrawal. All information provided is deemed reliable but is not guaranteed accurate, and should be independently verified.
Bought with Compass
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