3249 E 4th Street, Los Angeles, CA 90063
List Price: $985K
Listing Status: Active
0Days on Market: 0
0 Bedrooms · 0 Bathrooms
Property Type: ResidentialIncome
Year Built: 1963
Lot Size: 4,975 sq ft
Garage Spaces: 3
Private Pool: Yes
MLS Number: WS26189594
About This Property
Exceptional 4-UNIT BOYLE HEIGHTS INVESTMENT — $985,000 / APPROX. $299 PER SF and just $246,250 per existing unit! There is potential for 46% more gross rental income and 7.0% stabilized cap at the $985K asking price. Current rents totaling approximately $4,767.80 per month with upside to $8,800 per month. That increases the gross scheduled rent from $57,214/year to approximately $105,600/year, an increase of roughly $48,386 annually. The biggest growth opportunity is in converting existing garage space into 2 ADU-conversions to bring in up to an additional $1,800 per month totalling $3,600 per month in additional income. The property goes from $8,800/month in projected market rent to $12,400/month 4+2 adus stabilized annual rents: $148,800/year. You will have approximately a 10.15% cap rate at $985,000. The seller has completed substantial capital improvements during ownership, including a copper plumbing re-pipe approximately six years ago, upgraded electrical panel, exterior painting, roof maintenance, replacement of two tank-style water heaters and remodeled bathrooms in two units. The property has four separate electric meters and four separate gas meters. The major systems are set and ready to go. Overall, the property has been well maintained, reflecting pride of ownership, and offers significant rental upside potential.
Listing provided by: BRIAN NGOY DRE #01821280 619-248-6434 brian@pgiestates.com, Real Brokerage Technologies
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