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    529 W 56th Street

    Los Angeles (City), CA 90037
    • $670,000
    • STATUS: Active
    • ON SITE: 18 days
    • ID#: SB20198134
    UPDATED: 25 min ago
    $670,000
    • 0
      BEDS
    • 0.12
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 2,370
      SQFT
    • $283
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1929
    County:

    School Ratings & Info

    Description

    Incredible Owner/Investor opportunity awaits for this stellar three-unit property in South Los Angeles. This is a property one can truly maximize so much out of in the coming years as South LA is seeing an incredible revitalizing multi-family housing boom and construction throughout west and east of the 110 freeway. The possibilities are endless. Front structure currently has two 1 Bedroom 1 Bath units, with one long term tenant currently in place. Individual parking space area currently being used by both. Long driveway allows for 2-3 cars in addition for the back unit. The upper back unit currently is a 2 Bedroom 1 Bath unit with a long term tenant that will be vacating prior to COE!!! In addition to that there are four garage spaces. Per seller and city, two of the spaces can be converted to an ADU giving you a 4th UNIT and make an aggressive owner/user cash flowing fourplex. With demand in the area for rentals skyrocketing this could be an ideal entry property for a buyer looking to start a portfolio in a great rental market with an incredible upside.

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2020-10-26T00:28:07.97. 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/110775117
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    529 W 56th Street Los Angeles (City), CA 90037

    • Price: $670,000
    • Status: Active
    • Updated: 25 min ago
    • ID#: SB20198134
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.12
    Acres
    2,370
    SQFT
    $283
    $/SQFT
    1929
    Built
    Neighborhood:
    C37 - Metropolitan South
    County:
    Los Angeles
    Area:
    C37 - Metropolitan South
    Property Description
    Incredible Owner/Investor opportunity awaits for this stellar three-unit property in South Los Angeles. This is a property one can truly maximize so much out of in the coming years as South LA is seeing an incredible revitalizing multi-family housing boom and construction throughout west and east of the 110 freeway. The possibilities are endless. Front structure currently has two 1 Bedroom 1 Bath units, with one long term tenant currently in place. Individual parking space area currently being used by both. Long driveway allows for 2-3 cars in addition for the back unit. The upper back unit currently is a 2 Bedroom 1 Bath unit with a long term tenant that will be vacating prior to COE!!! In addition to that there are four garage spaces. Per seller and city, two of the spaces can be converted to an ADU giving you a 4th UNIT and make an aggressive owner/user cash flowing fourplex. With demand in the area for rentals skyrocketing this could be an ideal entry property for a buyer looking to start a portfolio in a great rental market with an incredible upside.
    Exterior Features

    Garage Spaces 4.00 Lot Features 0-1 Unit/Acre Lot Size Source Assessor Lot Size Units Square Feet Parking Total 4.00 Pool Features None Pool Private YN No Property Attached YN Yes

    Interior Features

    Average Studio Area Units Square Feet Average1 Bed Area Units Square Feet Average2 Bed Area Units Square Feet Average3 Bed Area Units Square Feet Common Walls 1 Common Wall Laundry Features None Levels Multi/Split

    Property Features

    Additional Parcels YN No Association Fee 0.00 Association YN No Building Area Units Square Feet Cap Rate 5.00 Community Features CurbsSidewalks Country Us Elevation Units Feet Fuel Expense 0.00 Gross Income 44916.00 Gross Operating Income 44916.00 Gross Scheduled Income 44916.00 Insurance Expense 185.00 Land Lease YN No Laundry YN No Net Operating Income 37812.00 New Construction YN No New Taxes Expense 421.00 Number Of Separate Electric Meters 3 Number Of Separate Gas Meters 3 Number Of Separate Water Meters 3 Operating Expense 7104.00 Rent Control YN Yes Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Tenant Pays ElectricityTrash Collection Total Actual Rent 3743.00 Total Expenses 7104.00 Trash Expense 120.00 Vacancy Allowance Rate 1.00 Water Sewer Expense 200.00 Water Source Public Year Built Source Assessor Zoning Lar4

    Listing provided courtesy of Luis Amaya of Palm Realty Boutique, Inc.


    Based on information from California Regional Multiple Listing Service, Inc. as of 2020-10-26T00:28:07.97. 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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