1457 W 84th Pl, Los Angeles, CA 90047

Property Description

Fantastic triplex well-located at 1457 W. 84th Place, just east of Inglewood in the Gramercy Park section of LA. Property features a front duplex with two 2+1 units currently operating as short-term rentals for $2,500/mth each. Typical stays average 1-3 months, and the owner has been renting successfully for years to South Bay tech/aerospace professionals & airline personnel from LAX. Then there's a detached 1+1 home currently rented for $1,000/mth for a total current gross income of $6,000/mth; $72,000/yr. At our $688,000 asking price, the property is priced at: $229,333/unit; a 9.56 current GRM; a 7.73% current CAP, and $291/SF. Assuming 30% down ($206,400) & operating expenses of $15,115/yr, the current cash flow would be approx. $23,066/yr (an 11.18% return). This property provides an investor will stable cash flow in a rapidly appreciating section of LA (90047) that will continue to experience solid rent growth over the coming years once the new Rams/Chargers Stadium & Hollywood Park redevelopment project and the new metro line running with service to LAX are completed. This would also be an attractive owner-user opportunity. The property is conveniently located close to great parks like the St. Andrews Rec Center, and also only a short drive from La Salle Avenue Elementary & Bret Harte Middle. There are a ton of national retailers locally: Ralphs; Chase Bank; Smart & Final; and Superior Grocers. Also a large Kaiser Permanente Hospital only minutes away.