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709 E 49th Street

Los Angeles (City), CA 90011
  • $580,000
  • STATUS: Active Under Contract
  • ON SITE: 42 Days
  • ID#: 24367197
Under Contract
$580,000
  • 5
    BEDS
  • 0.15
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 1,940
    SQFT
  • $299
    $/SQFT
Neighborhood:
Type:
Multi-Family
Built:
1895
County:

School Ratings & Info

Listing Agent(s): Jonathan Rawson of Avenue Realty Group (310-310-8624)


Description

This 2-unit fully occupied investment property has beautiful architecture, charm, and curb appeal and is located on a safe street across from an elementary school. 5.25% cap rate on current rents at asking price, and a below market $290k per unit and $298 per RSF. Great combination of in-place cash flow, along with value-add / rental upside potential for a first-time investor. Great mix of a detached front 3 Bed/1 Bath house, and a 2 Bed/1 Bath unit in the back, and on-site parking for both units. Low operating expenses as both units pay for gas, electricity and trash, and each have their own in-unit water heaters. Located exactly 2 miles away from Exposition Park as tenants get to enjoy close proximity to BMO Stadium, LA Coliseum, the new $1B George Lucas Museum, California Science Center and Natural History Museum. Both units will be delivered occupied at closing -- no vacancies.

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Based on information from California Regional Multiple Listing Service, Inc. as of 2024-04-23T10:20:30.653. 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 Robin McCann | EXIT Alliance Realty. Licensed in the State of California, USA.
www.socalrealtyexpert.com/homes/148464465
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709 E 49th Street Los Angeles (City), CA 90011

  • Price: $580,000
  • Status: Active Under Contract
  • On Site: 42 Days
  • ID#: 24367197
5
Beds
0
Baths
0
½ Baths
0.15
Acres
1,940
SQFT
$299
$/SQFT
1895
Built
Neighborhood:
C42 - Downtown L.A.
County:
Los Angeles
Area:
C42 - Downtown L.A.
Property Description
This 2-unit fully occupied investment property has beautiful architecture, charm, and curb appeal and is located on a safe street across from an elementary school. 5.25% cap rate on current rents at asking price, and a below market $290k per unit and $298 per RSF. Great combination of in-place cash flow, along with value-add / rental upside potential for a first-time investor. Great mix of a detached front 3 Bed/1 Bath house, and a 2 Bed/1 Bath unit in the back, and on-site parking for both units. Low operating expenses as both units pay for gas, electricity and trash, and each have their own in-unit water heaters. Located exactly 2 miles away from Exposition Park as tenants get to enjoy close proximity to BMO Stadium, LA Coliseum, the new $1B George Lucas Museum, California Science Center and Natural History Museum. Both units will be delivered occupied at closing -- no vacancies.
Exterior Features

Parking Features Assigned Parking Total 2

Interior Features

Common Walls No Common Walls Heating Wall Furnace Heating YN Yes Interior Features Ceiling Fan(s)

Property Features

Association YN No Cap Rate 5.22 Gross Income 45168 Levels One Listing Agreement Exclusive Right To Sell Listing Service Full Service Net Operating Income 30271 New Construction YN No Rent Control YN Yes Senior Community YN No Special Listing Conditions Standard Tenant Pays ElectricityGasTrash Collection Zoning LAR2



Based on information from California Regional Multiple Listing Service, Inc. as of 2024-04-23T10:20:30.653. 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 Robin McCann | EXIT Alliance Realty. Licensed in the State of California, USA.
 
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Robin McCann | EXIT Alliance Realty
43521 Rige Park Drive, Suite 201
Temecula CA, 92590
Listing Agent(s): Jonathan Rawson of Avenue Realty Group (310-310-8624)