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Listed by John McCann - DRE #01963932 - Lyon Stahl Investment Real Estate, Inc. 310-425-9838

$1,150,000

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1719 Miramar Street Los Angeles, CA 90026

Cluster Residence

10 Beds

4 Baths

3,540 Sq. Ft.

0.1 Acre Lot

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Last updated on 11/15/2024 11:57 PM

Listing Details

1719 Miramar Street, located in the heart of Los Angeles, presents a clean investment opportunity with significant rental upside. This 4-unit building features a total of 3,540 sq. ft. of rentable space on a 4,200 sq. ft. lot, with a mix of large units two currently operating as 2-bedroom, 1-bathroo...m units, and two as 3-bedroom, 1-bathroom units. Originally built in 1910, the property has been well-maintained with recent termite tenting, a new roof, copper plumbing, and an ABS main line. Each unit is individually metered, and the property offers ample parking at the rear. Currently generating $7,446 per month ($89,352 annually) with $60,899 in net income, the property has a 5.24% cap rate and a 12.87 GRM. With a 21% rental upside, the potential gross income could rise to $9,000 per month ($108,000 annually) with a net income of $79,322, boosting the cap rate to 6.84% and improving the GRM to 10.65. Priced at $1,150,000, this property reflects approximately $325 per rentable square foot and $287,500 per door, making it an attractive proposition for investors looking for immediate cash flow with significant upside potential in an up and coming Los Angeles location. Continue reading

MLS#

24453333

Property Type

Cluster

Status

Bedrooms

Bathrooms

Year Built

1910

Square Feet

3,540 sq. ft

Lot Size