MarketPier

4245 Normal Avenue - Los Angeles, CA 90029

$1,295,000
Listing Description

Fantastic well-maintained bread and butter triplex in red hot Virgil Village/East Hollywood neighborhood. One unit delivered vacant and freshly painted to move right into or take advantage of top rents; other two units occupied by solid tenants at/near market rates - you don't have to wait for upside on this one. Excellent rental history with very low turnover and high occupancy. Side by side duplex in front: 1st unit with two bedrooms, one bath; 2nd (available unit) with two bedrooms, TWO bathrooms. Standalone rear house with two bedrooms, TWO bathrooms. All units have been renovated with updated kitchens and bathrooms, in-unit laundry. Separate, detached three car garage provides each unit with TWO dedicated parking spaces - six off-street spaces total. Each unit has own private, fenced outside yard space, with mature fruit trees. Recently updated features include newly painted exterior, newer garage doors, newer roofs, fresh landscaping. Easily walkable to LA City College, Red Line station, Sunset Junction in Silver Lake, all the new restaurants and shops on Virgil, and more. Take advantage of Opportunity Zone and Transit Oriented Communities incentives and benefits. Great location in a rapidly appreciating neighborhood with great rents, tenants, parking, yards, etc. This is a super desirable, easily managed, small multi-family residential income property, for investors, landlords and tenants alike, which will provide for years to come - you don't want to miss out!

Listing Information
MLS Number
DW19110533
APN/Parcel ID
5539011022
Type
Multifamily
Sub Type
Multifamily
Building Size
2,678 sqft
Lot Size
7,750 sqft
Price / SQFT
$484
No Units
3
Price / Unit
$431,667
Gross Scheduled Income
$89,208
Expenses
$21,900
Total Expenses
$21,900
Net Income
$67,308
Cap Rate
5.20%
Listing Date
5/15/2019
Days Active
3
Last Updated
5/19/2019
Listing Provided By
Casimira Kneebone
Truth Realty
BRE# 01955896

Thank You

An email has been sent. Someone will be in touch soon!

Contact Agent

Please Complete All Required Fields.
The information being provided by California Regional Multiple Listing Service, Inc. (“CRMLS”) is for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or with the appropriate professionals.