$1,500,000
$1,500,000
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4,787 SqFt
SOLD DATE : 12/04/2012
Key Details
Sold Price $1,500,000
Property Type Multi-Family
Sub Type Multi Family
Listing Status Sold
Purchase Type For Sale
Square Footage 4,787 sqft
Price per Sqft $313
MLS Listing ID CC319152
Sold Date 12/04/12
HOA Y/N No
Year Built 1949
Lot Size 9,147 Sqft
Acres 0.21
Property Description
There are a total of 6 units within 2 buildings (5 LEGAL APARTMENTS + 1 RETAIL). 3 of the tenants are commercial and 3 are multi-residential. The commercial tenants are on a month to month tenancy, the multi-residential units are subject to the LA City Rent Control Ordinance which permits limited increases in rent for existing tenants each year. Upon the tenant vacating the units, they may be rented at whatever the market will bear. The rents are below market and the present Gross Scheduled Income from rents is $91,800. The projected market rent is $113,460 which translates to a GRM of 13.22 and a CAP rate of 5.21% when accounting for new property taxes, insurance and operating expenses. Offerings of this kind are very rare due to the limited turnover of properties in this prime location.. Location:United States.
Location
State CA
County Los Angeles
Area C12 - Marina Del Rey
Zoning C2
Interior
Fireplace No
Building
Story 2
Others
Tax ID 4229916001
Special Listing Condition Standard
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Bought with David Yashar • Stephen Lampe
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "