$7,550,000
$7,550,000
For more information regarding the value of a property, please contact us for a free consultation.
40,632 SqFt
SOLD DATE : 02/28/2014
Key Details
Sold Price $7,550,000
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Square Footage 40,632 sqft
Price per Sqft $185
MLS Listing ID PW14005941
Sold Date 02/28/14
HOA Y/N No
Year Built 1989
Lot Size 1.303 Acres
Acres 1.303
Property Description
The subject property gives an investor the opportunity to purchase a newer, 1989 construction, property in an excellent in-fill rental location. The property offers an excellent unit mix, with 86% of the apartments being 2-bedroom units. Residents enjoy a large amount of covered parking, as well as multiple common areas. The apartments each have a balcony or patio and have been well-maintained by the current owner. New ownership will find a lack of competing newer construction product for rent, as well as very high barriers to entry, and should be able to increase the property’s
income with prudent management. A buyer is free to obtain new financing as well, allowing them to capitalize on today’s extremely low interest rates.
Location
State CA
County Los Angeles
Area Rl - Paramount North Of Somerset
Interior
Fireplace No
Exterior
Garage Underground
Pool None
Community Features Curbs
Utilities Available SewerAvailable
Parking Type Underground
Total Parking Spaces 87
Private Pool No
Building
Lot Description Item25UnitsAcre
Story Two
Entry Level Two
Water Public
Level or Stories Two
Others
Tax ID 6241020065
Acceptable Financing Cash, CashtoNewLoan
Listing Terms Cash, CashtoNewLoan
Financing CashtoNewLoan
Special Listing Condition Standard
Read Less Info
Want to know what your home might be worth? Contact us for a FREE valuation!
Our team is ready to help you sell your home for the highest possible price ASAP
Bought with Outofarea Outofarea • Out Of Area
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "