$1,100,000
$1,200,000
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2,812 SqFt
SOLD DATE : 02/19/2021
Key Details
Sold Price $1,100,000
Property Type Other Types
Sub Type Apartment
Listing Status Sold
Purchase Type For Sale
Square Footage 2,812 sqft
Price per Sqft $391
MLS Listing ID AR20249299
Sold Date 02/19/21
HOA Y/N No
Year Built 1961
Lot Size 5,397 Sqft
Acres 0.1239
Property Description
First time for sale since 1991. 4-unit value-add apartment investment opportunity in Atwater Village area of Los Angeles (bordered by Los Feliz and Silver Lake). Based on rent comparable of upgraded units in the area, the offering provides a potential CAP Rate of over 8%. The property has new roof that was installed in 2017. The property is a 2-story garden style apartment that was built in 1961. It has an excellent unit mix of 2 x 2bedroom+1bathroom and 2 x 1bedroom+1bathroom units. It is situated on a 5,399 SF lot and offers 4 carport parking. There is no tuck-under parking which eliminates any soft-story retrofit requirements. It has shared laundry area in the back (seller own machines). Each unit is separately metered for electricity and gas. Each unit is occupied by long-time tenants that are on month-to-month lease. Each unit has windows A/C, wall heater, individual water heater, laminate kitchen countertop, and tiled bathroom. None of the units have been upgraded (unit #1 has updated flooring, the other 3 are on carpet).
Location
State CA
County Los Angeles
Area 606 - Atwater
Zoning LARD2
Rooms
Ensuite Laundry CommonArea
Interior
Laundry Location CommonArea
Heating WallFurnace
Cooling WallWindowUnits
Flooring Carpet, Vinyl
Fireplaces Type None
Fireplace No
Appliance GasRange
Laundry CommonArea
Exterior
Garage Assigned
Carport Spaces 4
Pool None
Community Features Urban
Utilities Available ElectricityConnected, NaturalGasConnected, PhoneConnected, SewerConnected, WaterConnected
Parking Type Assigned
Total Parking Spaces 4
Private Pool No
Building
Lot Description StreetLevel
Story 2
Entry Level Two
Sewer PublicSewer
Water Public
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 5436010034
Acceptable Financing Cash, CashtoNewLoan
Listing Terms Cash, CashtoNewLoan
Financing CashtoNewLoan
Special Listing Condition Standard
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Bought with Amelita Bautista • Keller Williams R. E. Services
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