2853 Buckingham Rd, Los Angeles, CA 90016

Property Description

PRICE REDUCED! Exceptional Spanish style 4 plex located in the West Adams area of Los Angeles. Located in the opportunity zone which can offer powerful tax incentives for investors. 2853 Buckingham is a stunning property located within 3 miles from the USC, 5 miles to LA Live/Staples Center and 4.5 miles from the Grove. For an unbeatable price of $1,650,000, you'll get 3 remodeled units with actual income of $104,280 and a current CAP rate of 4.5%. Utilizing rent raises through capital improvements and unit renovations increase CAP to 5.3%. The well-maintained building features four 2 bedrooms/1 bathroom units in the 2-story property with spacious floor plans and 4 car parking garages. The property is approximately 5,207 rentable sq/ft per assessor situated on 7,000 sq/ft lot per assessor. Each apartment has an in-unit washer/dryer room. Actual income of $104,280. Separately metered for gas/electric and individual water heaters. Buyer to verify square footage, bedroom/bathroom count, lot size, permitted or unpermitted spaces and all other features of the property. Buyers to independently investigate the accuracy of all the information pertaining to the property and conduct their own due diligence through appropriate professionals.