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    1428 Micheltorena Street

    Los Angeles (City), CA 90026
    • $2,450,000
    • STATUS: Active
    • ON SITE: 43 Days
    • ID#: DW21194941
    Price Reduced
    UPDATED: 66 min ago
    $2,450,000
    • 0
      BEDS
    • 0.21
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1923
    County:

    School Ratings & Info

    Description

    1428 Micheltorena Street is located in the rapidly growing Silver Lake neighborhood of Los Angeles, and is adjacent to Sunset Boulevard dining, nightlife, and shopping. The offering consists of (8) 1 Bedroom / 1 Bathroom units within 4 detached Spanish Bungalows on a large 8,978 sqft corner lot. Two units will be delivered with no tenants, while the other 6 units are leased. These units are in original condition and boast approximately 170% upside in rents! The property has a common courtyard area, is separately metered for gas + electricity, and has a detached 6-car garage. There is potential to add TWO ADUs to this property per California State Law (Buyer to Verify). Additionally, a Buyer has the potential to convert these rental units into "For Sale product (TIC Conversion).

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2021-10-16T09:27:11.563. 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 Keller Williams Realty. Licensed in the State of California, USA.
    www.therealestategirl.com/homes/121071041
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    1428 Micheltorena Street Los Angeles (City), CA 90026

    • Price: $2,450,000
    • Status: Active
    • Updated: 66 min ago
    • ID#: DW21194941
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.21
    Acres
    1923
    Built
    Neighborhood:
    671 - Silver Lake
    County:
    Los Angeles
    Area:
    671 - Silver Lake
    Property Description
    1428 Micheltorena Street is located in the rapidly growing Silver Lake neighborhood of Los Angeles, and is adjacent to Sunset Boulevard dining, nightlife, and shopping. The offering consists of (8) 1 Bedroom / 1 Bathroom units within 4 detached Spanish Bungalows on a large 8,978 sqft corner lot. Two units will be delivered with no tenants, while the other 6 units are leased. These units are in original condition and boast approximately 170% upside in rents! The property has a common courtyard area, is separately metered for gas + electricity, and has a detached 6-car garage. There is potential to add TWO ADUs to this property per California State Law (Buyer to Verify). Additionally, a Buyer has the potential to convert these rental units into "For Sale product (TIC Conversion).
    Exterior Features

    Architectural Style BungalowSpanish Lot Features 0-1 Unit/Acre Number Of Separate Electric Meters 8 Open Parking Spaces 2 Parking Features Garage Parking Total 8 Pool Features None Pool Private YN No Property Attached YN Yes Road Frontage Type City Street Road Surface Type Paved Roof Flat Spa Features None Spa YN No View Hills View YN Yes

    Interior Features

    Common Walls 1 Common Wall

    Property Features

    Additional Parcels YN No Cap Rate 2.79 Common Interest None Community Features UrbanGated Garage YN Yes Gross Income 110664 Gross Scheduled Income 110664 Insurance Expense 1260 Land Lease YN No Laundry Features See Remarks Listing Agreement Exclusive Right To Sell Listing Service Full Service Listing Terms 1031 Exchange Net Operating Income 68305 New Construction YN No Number Of Separate Gas Meters 8 Number Of Separate Water Meters 1 Number Of Units Leased 6 Operating Expense 39039 Rent Control YN Yes Security Features Gated Community Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Total Actual Rent 9222 Trash Expense 1010 Vacancy Allowance 3320 Water Sewer Expense 1510 Water Source Public

    Listing provided courtesy of Andrew Wilkey of Calhomes Realty


    Based on information from California Regional Multiple Listing Service, Inc. as of 2021-10-16T09:27:11.563. 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 Keller Williams Realty. Licensed in the State of California, USA.
     
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