3249 E 4th Street, Los Angeles, CA 90063
- $985,000
- List Price
- $985,000
- Status
- ACTIVE
- MLS#
- WS26189594
- Year Built
- 1963
- Lot Size
- 4,975
- Acres
- 0.11
- Lot Location
- 0-1 Unit/Acre
- Days on Market
- 13
- Property Type
- Multifamily
- Property Sub Type
- Quadruplex
- Stories
- Two Levels
Property Description
Exceptional 4-UNIT BOYLE HEIGHTS INVESTMENT — $985,000 / APPROX. $299 PER SF and just $246,250 per existing unit! There is potential for 46% more gross rental income and 7.0% stabilized cap at the $985K asking price. Current rents totaling approximately $4,767.80 per month with upside to $8,800 per month. That increases the gross scheduled rent from $57,214/year to approximately $105,600/year, an increase of roughly $48,386 annually. The biggest growth opportunity is in converting existing garage space into 2 ADU-conversions to bring in up to an additional $1,800 per month totalling $3,600 per month in additional income. The property goes from $8,800/month in projected market rent to $12,400/month 4+2 adus stabilized annual rents: $148,800/year. You will have approximately a 10.15% cap rate at $985,000. The seller has completed substantial capital improvements during ownership, including a copper plumbing re-pipe approximately six years ago, upgraded electrical panel, exterior painting, roof maintenance, replacement of two tank-style water heaters and remodeled bathrooms in two units. The property has four separate electric meters and four separate gas meters. The major systems are set and ready to go. Overall, the property has been well maintained, reflecting pride of ownership, and offers significant rental upside potential.
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Additional Information
- Pool Description
- None
- Heat
- Wall Furnace
- Cooling
- Yes
- Cooling Description
- Wall/Window Unit(s)
- Garage Spaces Total
- 3
- Sewer
- Public Sewer
- Water
- Public
- Attached Structure
- Detached
- Number Of Units Total
- 4
- Gross Scheduled Income
- $57,213
- Operating Expense
- 10600
Listing courtesy of Listing Agent: BRIAN NGOY (brian@pgiestates.com) from Listing Office: Real Brokerage Technologies.
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Based on information from California Regional Multiple Listing Service, Inc. as of . 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 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 retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.