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5745 Arroyo Drive

Los Angeles (City), CA 90042
  • $1,730,000
  • STATUS: Active
  • ON SITE: 89 Days
  • ID#: AR22035137
Price Reduced
UPDATED: 49 min ago
$1,730,000
  • 0
    BEDS
  • 0.13
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
Built:
1961
County:

School Ratings & Info

Listing Agent(s): Justin Mccardle of Gig Real Estate Inc. (626-594-4901)


Description

We're proud to present this attractive 6 Unit Value Add opportunity in one of the hottest Markets in Los Angeles- Highland Park! The building has all 2-bedroom units with 6 tandem parking spaces and is individually metered for gas and electricity. The current rents are considerably below market with rental upside being +/- 75% below comparable nicely renovated units in the area. It is strategically located near all the Figueroa has to offer as well as the Metro Gold Line and 110 freeway with easy access to Downtown LA. These units are perfect for the buyer looking to add significant value as this pocket in Los Angeles has proven the strength of the rental market which continues to improve. The size and location of the building make this a solid hold for all size portfolios!

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Based on information from California Regional Multiple Listing Service, Inc. as of 2022-05-23T09:35:40.003. 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/126052486
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5745 Arroyo Drive Los Angeles (City), CA 90042

  • Price: $1,730,000
  • Status: Active
  • On Site: 89 Days
  • Updated: 49 min ago
  • ID#: AR22035137
0
Beds
0
Baths
0
½ Baths
0.13
Acres
1961
Built
Neighborhood:
632 - Highland Park
County:
Los Angeles
Area:
632 - Highland Park
Property Description
We're proud to present this attractive 6 Unit Value Add opportunity in one of the hottest Markets in Los Angeles- Highland Park! The building has all 2-bedroom units with 6 tandem parking spaces and is individually metered for gas and electricity. The current rents are considerably below market with rental upside being +/- 75% below comparable nicely renovated units in the area. It is strategically located near all the Figueroa has to offer as well as the Metro Gold Line and 110 freeway with easy access to Downtown LA. These units are perfect for the buyer looking to add significant value as this pocket in Los Angeles has proven the strength of the rental market which continues to improve. The size and location of the building make this a solid hold for all size portfolios!
Exterior Features

Lot Features 6-10 Units/AcreIrregular Lot Number Of Separate Electric Meters 7 Open Parking Spaces 12 Parking Features ConcreteUncovered Parking Total 12 Pool Features None Pool Private YN No Property Attached YN Yes

Interior Features

Common Walls 2+ Common Walls

Property Features

Additional Parcels YN No Common Interest None Community Features SidewalksUrban Electric Expense 812 Fuel Expense 237 Garage YN No Gross Income 79572 Gross Scheduled Income 79572 Insurance Expense 2807 Land Lease YN No Laundry Features Common Area Levels Two Listing Agreement Exclusive Right To Sell Listing Service Full Service Listing Terms CashCash To New Loan Net Operating Income 40122 New Construction YN No Number Of Separate Gas Meters 7 Number Of Separate Water Meters 1 Operating Expense 37139 Rent Control YN Yes Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Trash Expense 0 Water Sewer Expense 5350 Water Source Public Zoning Lard2



Based on information from California Regional Multiple Listing Service, Inc. as of 2022-05-23T09:35:40.003. 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): Justin Mccardle of Gig Real Estate Inc. (626-594-4901)