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1040 Beacon Avenue

Los Angeles (City), CA 90015
  • $1,595,000
  • STATUS: Active
  • ON SITE: 35 Days
  • ID#: 22149251
Price Reduced
UPDATED: 39 min ago
$1,595,000
  • 0
    BEDS
  • 0.18
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
Built:
1912
County:

School Ratings & Info

Listing Agent(s): Armin Soleimani of Global Platinum Properties, Inc. (818-524-0706) and Julio Ruiz of Global Platinum Properties, Inc.(818-524-0706)


Description

Price Reduced 100k! 75% Vacant 4 Fixer Units and preliminary plans to add 3 ADUs sitting on a large 8,000 SF R-3 Lot with Alley Access. This is a great value, priced at only 292k/door for mostly vacant units with a huge upside to a 9.4% Cap Rate and 8.9 GRM after renovations and 10.3% Cap Rate and 8.3 GRM on the proforma. Individually metered for Gas & Electricity. Excellent location minutes from Koreatown, DTLA, Crypto.com Arena, and LA Live. Potential to build 1 Attached Studio ADU in the basement plus 2 detached 2-stories 1,005 SF 4 Bed 2 Bath ADUs in the back

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Based on information from California Regional Multiple Listing Service, Inc. as of 2022-05-28T22:27:34.22. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Legacy 15 Real Estate Brokers. Licensed in the State of California, USA.
www.legacy15.com/homes/127988157
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1040 Beacon Avenue Los Angeles (City), CA 90015

  • Price: $1,595,000
  • Status: Active
  • On Site: 35 Days
  • Updated: 39 min ago
  • ID#: 22149251
0
Beds
0
Baths
0
½ Baths
0.18
Acres
1912
Built
Neighborhood:
C42 - Downtown L.A.
County:
Los Angeles
Area:
C42 - Downtown L.A.
Property Description
Price Reduced 100k! 75% Vacant 4 Fixer Units and preliminary plans to add 3 ADUs sitting on a large 8,000 SF R-3 Lot with Alley Access. This is a great value, priced at only 292k/door for mostly vacant units with a huge upside to a 9.4% Cap Rate and 8.9 GRM after renovations and 10.3% Cap Rate and 8.3 GRM on the proforma. Individually metered for Gas & Electricity. Excellent location minutes from Koreatown, DTLA, Crypto.com Arena, and LA Live. Potential to build 1 Attached Studio ADU in the basement plus 2 detached 2-stories 1,005 SF 4 Bed 2 Bath ADUs in the back
Exterior Features

Architectural Style Craftsman Direction Faces West Parking Features Uncovered Parking Total 2 View City Lights View YN Yes

Interior Features

Cooling None Cooling YN No Fireplace Features Kitchen Fireplace YN Yes

Property Features

Association Fee 0 Gross Income 228840 Listing Agreement Seller Reserved Listing Service Full Service Net Operating Income 192066 New Construction YN No Senior Community YN No Special Listing Conditions Standard Vacancy Allowance Rate 75 Zoning Lar3



Based on information from California Regional Multiple Listing Service, Inc. as of 2022-05-28T22:27:34.22. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Legacy 15 Real Estate Brokers. Licensed in the State of California, USA.
 
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Legacy 15 Real Estate Brokers
22521 Avenida Empresa Suites 100 & 102
Rancho Santa Margarita CA, 92688
Listing Agent(s): Armin Soleimani of Global Platinum Properties, Inc. (818-524-0706) and Julio Ruiz of Global Platinum Properties, Inc.(818-524-0706)