$ 865,000
-
$865,000
Price -
7
Bed -
7
Bath -
2,864
SqFt
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About the Listing X83047 - X91773
We are pleased to present Avenue 40 Apartments located at 206 E. Avenue 40 in Los Angeles. The property is located on a quiet residential street nestled between Cypress Park and Highland Park. The charming seven unit complex was originally constructed in 1921 and had a major renovation in 2011. Significant upgrades were completed to the plumbing and electrical systems. New roofs were installed on three of the bungalows. Further, 206, 206 , and 208 have had major remodels since that time when the units became vacant. Total capex exceeds $150,000. The 2,864 SF property is comprised of six x studio/one bath, and one x one bedroom/one bath detached bungalows. There are individual water heaters (5 are tankless) and the property is separately metered and ownership only pays for water and sewer. The property is subject to city of Los Angeles Rental Stabilization Ordinance. Highland Park has enjoyed a renaissance over the last decade as a hip place to live. New restaurants and shopping have created a local economic engine, driving up property values and rents. The property is ideally situated to take advantage of the local burgeoning economy, and also has easy access to I-110 and I-5. Further, Metro's Heritage Square A Line station is less than a 10 minute walk from the property. The offering is an ideal opportunity for an investor to take advantage of a turnkey bungalow property. The property is 100% occupied. Priced at a 6.54% CAP upon acquisition, and major capital expenditures completed, this is an excellent low maintenance opportunity with approximately 40% rental upside.
Listing Highlights
Status
Active
Days on Site
12
Property Type
Multi-Family
MLS ®
26662129
Year Built
1921
Total Square Footage
2,864
Lot/Acreage
0.17
County
Los Angeles
Interior Details
- Bedrooms: 7
- Bathrooms: 7 Full
- Appliances: Oven, Gas
- Air Cond: Wall/Window
- Heating: Wall Gas
- Fireplaces:
- Floor:
- Above Ground Sq Ft:
- Below Ground Sq Ft: n/a
- Basement:
- Other: Living Room,Studio
- Water:
Exterior Details
- Lot Description: Single Lot,Lot-Level/Flat,Street Paved,Curbs
- Garage Capacity: N/A
- Parking Spaces: 1
- Zoning: LARD2
- Roof:
- Others: Additions/Alter,Updated/Remodeled
- Sewer: In Street
- Parking Features: Driveway
Financial Details
- Tax Amount: N/A
- Taxes w/Assessments: N/A
- Tax/Property ID: N/A
- Tax Year: N/A
Payment Calculator
Monthly Payment
- in Principal and Interest
- in Taxes
Years
% Down Payment
% Mortgage Rate
Questions About..
206 E Avenue 40 Los Angeles, CA 90031
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