154 S Mountain View Ave, Los Angeles, CA 90057

Property Description

Nestled at 154 S Mountain View Ave, this multi-family dwelling boasts a generous 6,169 square feet and is situated on a spacious 6,391 square foot lot. The property, currently available for sale, comprises a total of 7 units. Among them, 1 unit presents an enticing 2-bed, 2-bath townhome-style layout featuring 2 balconies, while the remaining 6 units mirror a consistent 2-bed, 1-bath floor plan. All units are exceptionally well-maintained, with the majority of tenants having called this place home for over a decade, with one exception who moved in just 2 years ago. Adding to its appeal, the property offers ample ground-floor parking, boasting a total of 7 rows with double parking, totaling 14 convenient parking spaces. Additionally, there is an onsite laundry room that currently sits idle due to the absence of machines. Once operational, this facility has the potential to generate additional income for the new buyer. Noteworthy is the presence of an 8th unit that was permitted on with build within the structure And the building was acquired and financed by the buyer with 8 units but city later mandated its removal, and it now serves as storage. Prospective buyers are encouraged to explore the possibility of reinstating or converting this unit into an ADU, subject to eligibility. The current monthly income from this investment property stands at $12,350, and an 8% increase is anticipated in February 2024. The strategic location of the property, amidst ongoing developments on the same street, is expected to drive an increase in property values. Seize the opportunity to invest in a property that not only promises immediate returns but also holds considerable potential for future appreciation.