3507 Edgehill Dr, Los Angeles, CA 90018

Property Description

Presenting a prime West Adams 4 unit property located at 3507 Edgehill Drive. The property has a good unit mix with a detached 3+1 House & a rear Triplex with three 1+1 Units with 2,406 total SF. All 4 units are tenant-occupied with a solid gross income of $4,975/mth; $59,700/yr currently with further rent upside to $6,000/mth; $72,000/yr as tenants vacate eventually. At our $795,000 price, the property is: $198,750/unit; a 13.32 current GRM; a 11.04 market GRM; a 4.77% current CAP; a 6.27% market CAP; and $330/sq. ft. The front home was built in 1926 & the rear triplex in 1960. The property sits on a good sized 5,900 SF lot zoned RD1.5. There are two garages & large multi-car rear parking landing so there's plenty of off-street parking for all tenants. There's also a rear patio area that could easily be transformed into a great BBQ area, and then there's a large rear shed that could be converted to a laundry room for additional income. This Edgehill property is tucked away on a beautiful primarily residential street. The property is conveniently located just east of Crenshaw Blvd; directly north of Expo Blvd; and just south of Jefferson Blvd. The property is also only a short 0.4 mile walk (8 minutes) from the Expo/Crenshaw metro train station with direct access from Downtown LA to Santa Monica. West Adams is a fantastic area with its central, mid-city location & ease of access to the Westside; Hollywood; DTLA; and a short drive to both the 10 & 110 Freeways.