2821 Sierra St, Los Angeles, CA 90031

Property Description

Great investment property, best price in town with good income at approx. $56000/mo. This one story 6- units apartment is located in desirable area, just few blocks north from broadway, close to elementary and high school, shopping and bus stops, easy freeway access. This 6-units complex including one -2 bedrooms, one - 1 bedroom and 4 studios. Iron gated in the front, nice yard, newer stoves about two years, laminated wood floor in 4 units living room, each unit has it's own kitchen and bathroom, common laundry room in rear. Profile shows that was built in 1923, the city record also shows that 2 units were built in 1974. Building size looks bigger than the profile of 2874 sf. Buyers to do their own investigation and satisfy themselves. Seller spent about $30,000 for the rehab in 2014, including installed a new water meter(about $8500); in 2016, completed all requirements by the housing department. All unit with laminated wood flooring and iron exterior doors, most window are new, newer stoves, some unit painted in 2014 and some painted in last year. This year, seller spent more than $10,000 to install new gas pipe line . Please note, this apartment is located in rent control area, rent can be increased 3% annually, new buyer has rent increase potential to get more income. Please do not walk on the property, do not disturb tenants! Drive by only, make an offer subject to interior inspection.