Description
MAJOR PRICE REDUCTION! We are pleased to present For Sale these Beautiful Pride of Ownership Spanish Style Villas located in a Great Lincoln Heights neighborhood. The property has an Attractive Single Story Layout and is operating as Spacious 2 and 3 Bedroom Units sitting on a Large 17,090 Square Foot Lot Zoned both LAC4 & RD3. The Layout of these 9 Units are operating as follows: FOUR DUPLEXES (which are operating as (EIGHT) Spacious 2 Bedroom + 1 Bathroom Single Story Units) and a detached Single-Story home operating as (ONE) 3 Bedroom + 2 Bathroom Unit. This is a True Turn Key Opportunity that yields a 4.67% Cap Rate on Current Rents and a Market Cap Rate of 7.97%. Over the tenure of ownership there have been Many Capital Improvements done to both the interior as well as the exterior of the property. This property has an Amazing Walk Score of 88 and therefore the Tenants enjoy the ease and comfort of being Walking Distance to Nearby Parks, Schools, Shops and Restaurants off Pasadena Ave and N Broadway. The Property neighbors Boyle Heights and Highland Park, and allows easy access to Downtown Los Angeles, Dodger Stadium and USC. Further from a convenient standpoint, the property is strategically near the 5, 110, 101 and 10 Freeways. Please note, Buyer to verify all information with respect to size, unit mix, unit count, zoning, etc.
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19BEDS
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0.39ACRES
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0BATHS
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01/2 BATHS
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6,580SQFT
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$304$/SQFT
School Ratings & Info
Description
MAJOR PRICE REDUCTION! We are pleased to present For Sale these Beautiful Pride of Ownership Spanish Style Villas located in a Great Lincoln Heights neighborhood. The property has an Attractive Single Story Layout and is operating as Spacious 2 and 3 Bedroom Units sitting on a Large 17,090 Square Foot Lot Zoned both LAC4 & RD3. The Layout of these 9 Units are operating as follows: FOUR DUPLEXES (which are operating as (EIGHT) Spacious 2 Bedroom + 1 Bathroom Single Story Units) and a detached Single-Story home operating as (ONE) 3 Bedroom + 2 Bathroom Unit. This is a True Turn Key Opportunity that yields a 4.67% Cap Rate on Current Rents and a Market Cap Rate of 7.97%. Over the tenure of ownership there have been Many Capital Improvements done to both the interior as well as the exterior of the property. This property has an Amazing Walk Score of 88 and therefore the Tenants enjoy the ease and comfort of being Walking Distance to Nearby Parks, Schools, Shops and Restaurants off Pasadena Ave and N Broadway. The Property neighbors Boyle Heights and Highland Park, and allows easy access to Downtown Los Angeles, Dodger Stadium and USC. Further from a convenient standpoint, the property is strategically near the 5, 110, 101 and 10 Freeways. Please note, Buyer to verify all information with respect to size, unit mix, unit count, zoning, etc.
Based on information from the Combined LA/Westside Multiple Listing Service as of 2022-08-19T14:43:38.237. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.