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Listing Details

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School Ratings & Info

Description

We are pleased to present 1301 E 59th Place -a seven (7) unit multifamily investment opportunity located in the Florence-Graham submarket of Los Angeles, CA and built in 1949. This property is not subject to Los Angeles city rent control; however, it is subject to California Assembly Bill 1482(Buyer to Verify). The two (2) story property consists of six (6) One Bedroom / One Bath units and one (1) Two Bedroom/ Two Bath unit that are 100% occupied. The property has been well-maintained and features the following upgrades:Units contain new kitchens with all new appliances along with new fixtures, a new exterior gate, and the entire exterior of the property was just painted. The property has a total of nine (9) parking spots. Situated on a 6,081 SF lot with 4,924 SF of building space, the building offers a spacious amount of room for each unit. The offering is priced at 12.65 GRM and 5.18% CAP, which are attractive rates in this active and emerging market. 1301 E 59th Place will benefit an investor with high returns,room to raise rents by modernizing the interiors, and providing a strong CAP rate and extremely low annual expenses. With historically high rental demand in the Florence Multi-Family submarket of Los Angeles, an investor can benefit from receiving strong rental income from a well-maintained property that provides on-site parking.

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Based on information from California Regional Multiple Listing Service, Inc. as of 2021-09-17T00:28:42.52. 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 The Kohler Group | Zutila. Licensed in the State of California, USA.
www.buysocal.homes/homes/116770884
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1301 E 59Th Place Los Angeles (City), CA 90001

  • Price: $1,500,000
  • Status: Active
  • ID#: 21726834
0
Beds
0
Baths
0
½ Baths
0.13
Acres
1949
Built
Neighborhood:
C42 - Downtown L.A.
County:
Los Angeles
Area:
C42 - Downtown L.A.
Property Description
We are pleased to present 1301 E 59th Place -a seven (7) unit multifamily investment opportunity located in the Florence-Graham submarket of Los Angeles, CA and built in 1949. This property is not subject to Los Angeles city rent control; however, it is subject to California Assembly Bill 1482(Buyer to Verify). The two (2) story property consists of six (6) One Bedroom / One Bath units and one (1) Two Bedroom/ Two Bath unit that are 100% occupied. The property has been well-maintained and features the following upgrades:Units contain new kitchens with all new appliances along with new fixtures, a new exterior gate, and the entire exterior of the property was just painted. The property has a total of nine (9) parking spots. Situated on a 6,081 SF lot with 4,924 SF of building space, the building offers a spacious amount of room for each unit. The offering is priced at 12.65 GRM and 5.18% CAP, which are attractive rates in this active and emerging market. 1301 E 59th Place will benefit an investor with high returns,room to raise rents by modernizing the interiors, and providing a strong CAP rate and extremely low annual expenses. With historically high rental demand in the Florence Multi-Family submarket of Los Angeles, an investor can benefit from receiving strong rental income from a well-maintained property that provides on-site parking.
Exterior Features

Parking Features GatedUncovered

Interior Features

Cooling None Cooling YN No Heating Wall Furnace Heating YN Yes

Property Features

Gross Income 118548 Listing Agreement Exclusive Right To Sell Listing Service Full Service Net Operating Income 77696 Senior Community YN No Special Listing Conditions Standard Vacancy Allowance Rate 0 Zoning Lcr3yy

Listing provided courtesy of Derrick Vartanian of Keller Williams Silicon Beach and Jonathan Prakash of Keller Williams Silicon Beach


Based on information from California Regional Multiple Listing Service, Inc. as of 2021-09-17T00:28:42.52. 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 The Kohler Group | Zutila. Licensed in the State of California, USA.
 
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The Kohler Group | Zutila
4000 Barranca Parkway #105
Irvine CA, 92604