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841 W 74Th St

Los Angeles, CA 90044
  • $599,000
  • STATUS: Active Under Contract
  • ON SITE: 197 Days
  • MLS #: 21-715822
Under Contract
UPDATED: 24 min ago
$599,000
  • 7
    BEDS
  • 0.13
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 2,238
    SQFT
  • $268
    $/SQFT
Neighborhood:
Type:
Multi-Family
Built:
1910
County:

School Ratings & Info

Description

We are pleased to present this bite size deal in South Los Angeles. This 4-unit property sits on a 5,602 sq.ft lot (0.13 acres), has a total building size of 2,238 sq.ft., and boasts a good unit mix of (2) 1-bed/1-bath units, (1) 2-bed/1-bath ADU, and (1) 3-bed/1-bath house. This property is currently 3 legal units with 1 non-conforming unit which is a converted garage. However, the Seller has just received fully approved RTI plans to legally convert the nonconforming unit to a legal ADU. The seller will be selling this property as-is, and the Buyer will be responsible for completing the ADU conversion. The Seller has received bids to complete this ADU work, and the cost will be between $50,000 to $60,000.Therefore, the buyer of this property should expect a total investment of up to $659,000 including the purchase price and ADU conversion cost. At this total cost, the buyers effective CAP rate will be 5.22% with the long-term value add potential of over 35% upside in rents. If the buyer was able to get all of the units to our very achievable market rents, the buyer will be able to achieve an extremely desirable 8.50% CAP rate and an estimated 17.81% cash-on-cash return!

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Based on information from the Combined LA/Westside Multiple Listing Service as of 2021-10-21T06:43:20.41. 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.
www.desertarealuxuryhomes.com/homes/115820624
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841 W 74Th St Los Angeles, CA 90044

  • Price: $599,000
  • Status: Active Under Contract
  • Updated: 24 min ago
  • MLS #: 21-715822
7
Beds
0
Baths
0
½ Baths
0.13
Acres
2,238
SQFT
$268
$/SQFT
1910
Built
Neighborhood:
Metropolitan Southwest
County:
Los Angeles
Area:
Metropolitan Southwest
Property Description
We are pleased to present this bite size deal in South Los Angeles. This 4-unit property sits on a 5,602 sq.ft lot (0.13 acres), has a total building size of 2,238 sq.ft., and boasts a good unit mix of (2) 1-bed/1-bath units, (1) 2-bed/1-bath ADU, and (1) 3-bed/1-bath house. This property is currently 3 legal units with 1 non-conforming unit which is a converted garage. However, the Seller has just received fully approved RTI plans to legally convert the nonconforming unit to a legal ADU. The seller will be selling this property as-is, and the Buyer will be responsible for completing the ADU conversion. The Seller has received bids to complete this ADU work, and the cost will be between $50,000 to $60,000.Therefore, the buyer of this property should expect a total investment of up to $659,000 including the purchase price and ADU conversion cost. At this total cost, the buyers effective CAP rate will be 5.22% with the long-term value add potential of over 35% upside in rents. If the buyer was able to get all of the units to our very achievable market rents, the buyer will be able to achieve an extremely desirable 8.50% CAP rate and an estimated 17.81% cash-on-cash return!
Exterior Features

Lot Size Area 5603 Other Structures Other Parking Garage Other Total Parking 4

Interior Features

Baths Total 4.00 Cooling Other Equipment Other Heating Other

Property Features

Assessed Total Value 487093 Gross Income 56448 Gross Operating Income 56448 Like Units1 2 Like Units2 1 Like Units3 1 Net Operating Income 35181.00 Number Of Buildings 1 Number Of Units 4 Sale Type Standard Source Living Area Owner Source Lot Size Area Vendor Enhanced Total Annual Expense 21267 Type Of Units Standard Year Built Source Vendor Enhanced Zoning Lard2

Listing provided courtesy of Filip Niculete DRE#01905352 of Marcus & Millichap.


Based on information from the Combined LA/Westside Multiple Listing Service as of 2021-10-21T06:43:20.41. 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.
 
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Palm Desert CA, 92260