Description
The property sits on 6,682 square feet of land and consists of five two-bedroom units and four one-bedroom units totaling 5,864 rentable square feet. A new owner will benefit from multiple enclosed garages providing space for eight vehicles or for additional storage. There is also potential to create an additional income stream via the currently unused laundry room located at the rear of the property. This offering is a true value-add opportunity with approximately 46% upside in rents. The average rent at 2755 E 58th Street is only $1,100 per unit while similar one-bedroom units in Huntington Park are averaging $1,550 per month and two-bedroom units are achieving $1,800 per month. With a proper renovation program, a savvy investor can realize the delta between current and market rents to dramatically improve income. The property is ideally situated approximately 4.5 miles from DTLA and among the 10, 5, 710, 105, and 110 Freeways.
-
14BEDS
-
0.15ACRES
-
0BATHS
-
01/2 BATHS
-
5,864SQFT
-
$324$/SQFT
School Ratings & Info
Description
The property sits on 6,682 square feet of land and consists of five two-bedroom units and four one-bedroom units totaling 5,864 rentable square feet. A new owner will benefit from multiple enclosed garages providing space for eight vehicles or for additional storage. There is also potential to create an additional income stream via the currently unused laundry room located at the rear of the property. This offering is a true value-add opportunity with approximately 46% upside in rents. The average rent at 2755 E 58th Street is only $1,100 per unit while similar one-bedroom units in Huntington Park are averaging $1,550 per month and two-bedroom units are achieving $1,800 per month. With a proper renovation program, a savvy investor can realize the delta between current and market rents to dramatically improve income. The property is ideally situated approximately 4.5 miles from DTLA and among the 10, 5, 710, 105, and 110 Freeways.
Based on information from the Combined LA/Westside Multiple Listing Service as of 2021-05-15T19:42:45. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.