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    619 N La Fayette Park Place

    Los Angeles (City), CA 90026
    • $2,750,000
    • STATUS: Active
    • ON SITE: 105 days
    • ID#: 20603474
    UPDATED: 38 min ago
    $2,750,000
    • 0
      BEDS
    • 0.12
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1963
    County:

    School Ratings & Info

    Description

    $100K Price Drop! Seller Motivated! Investor's dream property in the desirable upscale neighborhood of Silver Lake! This 5 unit turn-key apartment complex is an incredible opportunity for an investor wanting passive income. Completely renovated to the nines, all five units in the building are 2 bedroom/ 1bath units with both bottom units boasting a private patio area. New roof, new tankless water heaters, new subpanels with upgraded electrical, new stainless steel appliances and new mini-split A/C systems are just some of the amazing upgrades done to the property. As a bonus, the complex has a 3 car garage that is an RTI 1bed/1bath, ADU adding to your overall income. Centrally located, this property sits in the heart of Silver Lake with all the hot entertainment spots just around the corner. Priced to sell at $2,750,000, the property has an incredible market GRM of 14.05 and 5.6% cap after adding the RTI ADU! Separately metered for gas and electric. Come see it today before it goes!

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2020-10-27T07:27:22.11. 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/107819025
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    619 N La Fayette Park Place Los Angeles (City), CA 90026

    • Price: $2,750,000
    • Status: Active
    • Updated: 38 min ago
    • ID#: 20603474
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.12
    Acres
    1963
    Built
    Neighborhood:
    671 - Silver Lake
    County:
    Los Angeles
    Area:
    671 - Silver Lake
    Property Description
    $100K Price Drop! Seller Motivated! Investor's dream property in the desirable upscale neighborhood of Silver Lake! This 5 unit turn-key apartment complex is an incredible opportunity for an investor wanting passive income. Completely renovated to the nines, all five units in the building are 2 bedroom/ 1bath units with both bottom units boasting a private patio area. New roof, new tankless water heaters, new subpanels with upgraded electrical, new stainless steel appliances and new mini-split A/C systems are just some of the amazing upgrades done to the property. As a bonus, the complex has a 3 car garage that is an RTI 1bed/1bath, ADU adding to your overall income. Centrally located, this property sits in the heart of Silver Lake with all the hot entertainment spots just around the corner. Priced to sell at $2,750,000, the property has an incredible market GRM of 14.05 and 5.6% cap after adding the RTI ADU! Separately metered for gas and electric. Come see it today before it goes!
    Exterior Features

    Architectural Style Traditional Construction Materials Stucco Direction Faces South Entry Location Ground Level W/Steps Garage Spaces 3.00 Lot Size Source Assessor Lot Size Units Square Feet Parking Features Parking SpaceDetached CarportAssignedGarage - Three DoorConcreteSide By Side Parking Total 3.00 Parking YN Yes Pool Features None Pool Private YN No Spa Features None Spa YN No View City Lights View YN Yes

    Interior Features

    Appliances DishwasherDisposalMicrowaveRefrigeratorOvenGas Oven Appliances YN Yes Fireplace Features Living Room Fireplace YN Yes Flooring WoodLaminate Heating CombinationForced Air Heating YN Yes Interior Features Recessed LightingOpen FloorplanHigh Ceilings Laundry Features In ClosetStackable Levels Two Room Type Living Room Window Features Double Pane Windows

    Property Features

    Accessibility Features None Country Us Garage Rental Rate 100.00 Gross Income 195660.00 Gross Multiplier 14.05 Gross Operating Income 195660.00 Gross Scheduled Income 197460.00 Laundry YN Yes Net Operating Income 152660.00 Number Of Separate Electric Meters 5 Number Of Separate Gas Meters 5 Number Of Separate Water Meters 1 Number Of Units Leased 5 Number With Dishwasher 5 Number With Disposal 5 Number With Patio 2 Number With Range 5 Number With Refrigerator 5 Property Condition Updated/Remodeled Rent Control YN Yes Security Features Gated Community Senior Community YN No Special Listing Conditions Standard Tenant Pays ElectricityGas Total Actual Rent 195660.00 Total Expenses 43000.00 Zoning Lard1.5

    Listing provided courtesy of Will Tiao of Tiao Properties, Inc.


    Based on information from California Regional Multiple Listing Service, Inc. as of 2020-10-27T07:27:22.11. 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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