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2524 Price Drive

La Verne, CA 91750
  • $1,295,000
  • STATUS: Active Under Contract
  • ON SITE: 18 Days
  • ID#: DW22093437
Under Contract
UPDATED: 41 min ago
$1,295,000
  • 0
    BEDS
  • 0.16
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
Built:
1964
County:

School Ratings & Info

Listing Agent(s): Carlos Campos of Hope Street Funding & Realty (424-201-0101)


Description

Investors line up and be prepared to write your cash offers ASAP! We have a fantastic asset for sale, its the pride and joy of La Verne, CA! Very close to the University of La Verne (3 minutes away) ! Up for sale is a triplex, first time in 20+ years! This gorgeous 3 unit complex holds extra large units, featuring a 3/2 (~1,518 sq.ft), two 2/2(~1,218 sq.ft), with a total square footage of 3,756. Excellent to finish off as LUXURY UNITS. Great Turn-Key Investment with Excellent ROI Potential. With the ability to build more ADU's on the 6,766 sq.ft. Very clean complex, extremely well maintained. Thats $431,667 per unit. Find a 2 or 3 bedroom house that is cheaper than $432,000 in this market! Good luck! it does not exist! Far lower than replacement cost, with the potential room to build additional ADUs. Lot's of upgrades: Converted carports into garages with doors and door openers, replaced all water/wall heaters, AC wall units (added additional AC units too), ceiling fans (and added additional ones), replaced wall heaters, replaced dishwashers; washers and dryers (stacked in the kitchen area)- tenants love this feature! Replaced all kitchen countertops, sinks, and replaced ranges in kitchen (all units). All bathrooms have been upgraded- new toilets, upgraded some of the bath tubs too. There's a new water main drain with copper piping. Painted Exterior, new security screen doors, the list of upgrades doesn't stop. Fantastic property for sale- with excellent cash flow potential. The property is in 8.9 / 10 condition. Priced to sell!!! This is the lowest price per square foot and price per door in this market. Tons of value to be had. Finish off to luxury units, and increase your cash flow today. But wait there's more! We are also representing the seller on an exact triplex across the street; please see 2531 Price Dr. La Verne. Its also priced to sell at $1.295M. Buy one triplex or buy both triplexes for $2.590M. Both properties are significantly under market rents! Owners is retiring making this a perfect long-term investment. Buy all cash then cash out. Other comps in the area are trading for $490-$499K per unit.Property is being sold-AS IS and price reflects discount for any small or mid size repairs. Buyers/Buyers Agent to satisfy all features, build type, and actual sq.ft, etc. seller and sellers agent are not responsible for satisfying this information.

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Based on information from California Regional Multiple Listing Service, Inc. as of 2022-05-24T07:31:44.907. 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/128373452
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2524 Price Drive La Verne, CA 91750

  • Price: $1,295,000
  • Status: Active Under Contract
  • On Site: 18 Days
  • Updated: 41 min ago
  • ID#: DW22093437
0
Beds
0
Baths
0
½ Baths
0.16
Acres
1964
Built
Neighborhood:
684 - La Verne
County:
Los Angeles
Area:
684 - La Verne
Property Description
Investors line up and be prepared to write your cash offers ASAP! We have a fantastic asset for sale, its the pride and joy of La Verne, CA! Very close to the University of La Verne (3 minutes away) ! Up for sale is a triplex, first time in 20+ years! This gorgeous 3 unit complex holds extra large units, featuring a 3/2 (~1,518 sq.ft), two 2/2(~1,218 sq.ft), with a total square footage of 3,756. Excellent to finish off as LUXURY UNITS. Great Turn-Key Investment with Excellent ROI Potential. With the ability to build more ADU's on the 6,766 sq.ft. Very clean complex, extremely well maintained. Thats $431,667 per unit. Find a 2 or 3 bedroom house that is cheaper than $432,000 in this market! Good luck! it does not exist! Far lower than replacement cost, with the potential room to build additional ADUs. Lot's of upgrades: Converted carports into garages with doors and door openers, replaced all water/wall heaters, AC wall units (added additional AC units too), ceiling fans (and added additional ones), replaced wall heaters, replaced dishwashers; washers and dryers (stacked in the kitchen area)- tenants love this feature! Replaced all kitchen countertops, sinks, and replaced ranges in kitchen (all units). All bathrooms have been upgraded- new toilets, upgraded some of the bath tubs too. There's a new water main drain with copper piping. Painted Exterior, new security screen doors, the list of upgrades doesn't stop. Fantastic property for sale- with excellent cash flow potential. The property is in 8.9 / 10 condition. Priced to sell!!! This is the lowest price per square foot and price per door in this market. Tons of value to be had. Finish off to luxury units, and increase your cash flow today. But wait there's more! We are also representing the seller on an exact triplex across the street; please see 2531 Price Dr. La Verne. Its also priced to sell at $1.295M. Buy one triplex or buy both triplexes for $2.590M. Both properties are significantly under market rents! Owners is retiring making this a perfect long-term investment. Buy all cash then cash out. Other comps in the area are trading for $490-$499K per unit.Property is being sold-AS IS and price reflects discount for any small or mid size repairs. Buyers/Buyers Agent to satisfy all features, build type, and actual sq.ft, etc. seller and sellers agent are not responsible for satisfying this information.
Exterior Features

Architectural Style Mid-Century ModernOther Lot Features Front YardNear ParkWalkstreetYard Number Of Separate Electric Meters 3 Parking Total 3 Pool Features None Pool Private YN No Property Attached YN Yes Road Frontage Type City Street Road Surface Type Paved Roof Common RoofOtherSee Remarks Spa Features None Spa YN No View Mountain(S)NeighborhoodPeek-A-Boo View YN Yes

Interior Features

Accessibility Features See Remarks Appliances DishwasherElectric OvenElectric RangeGas RangeDryerWasher Common Walls 2+ Common Walls Cooling Whole House FanWall/Window Unit(S) Cooling YN Yes Fireplace Features DenSee Remarks Fireplace YN Yes Flooring CarpetVinyl Heating Wall Furnace Heating YN Yes Interior Features Ceiling Fan(S)Granite CountersStorage

Property Features

Additional Parcels YN No Cap Rate 4.48 Common Interest None Community Features BikingStreet LightsSidewalksPark Contingency Please Drive By Only. No Talking To Tenants. You Are Not Allowed To Walk in Or Around The Building Without An Appointment With Listing Agent Per Sellers Request. Property is in A- Shape But Being "Sold-As is Where is". No RepairsPrice Already Reflects A Price Discount For Potential Small Repairs Or Medium Size RepairsEtc. Please Email Me At Carlos@Hopesf.Us Or Call Me At 424-201-0101. (Call/Whatsapp/Text). Buyer And Buyer's Agent To Satisfy All FeaturesConditionAnd Sq.Ft Of The Property No Electric Electricity - On Property220 Volts in Kitchen Garage YN Yes Gross Income 0 Gross Scheduled Income 57960 Insurance Expense 1000 Land Lease YN No Laundry Features Electric Dryer HookupGas Dryer HookupIn KitchenSee RemarksStacked Listing Agreement Exclusive Right To Sell Listing Service Full Service Listing Terms Cash1031 Exchange Net Operating Income 54960 New Construction YN No Number Of Separate Gas Meters 3 Number Of Separate Water Meters 0 Number Of Units Leased 3 Operating Expense 3000 Possession Close Plus 2 Days Rent Control YN No Senior Community YN No Sewer Public SewerOther Special Listing Conditions Standard Trash Expense 1000 Utilities Cable ConnectedPhone AvailableSee RemarksUnderground UtilitiesWater Available Water Sewer Expense 1000 Water Source PublicSee Remarks Zoning Lvpr15a*



Based on information from California Regional Multiple Listing Service, Inc. as of 2022-05-24T07:31:44.907. 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): Carlos Campos of Hope Street Funding & Realty (424-201-0101)