6,250 Sqft Lot
6,250 Sqft Lot
Key Details
Property Type Multi-Family
Sub Type Quadruplex
Listing Status Active
Purchase Type For Sale
MLS Listing ID SR26243056
HOA Y/N No
Year Built 1929
Lot Size 6,250 Sqft
Property Sub-Type Quadruplex
Property Description
Rare opportunity to acquire a four-unit multifamily investment in the highly desirable Beverly Grove neighborhood of Los Angeles. Situated on a 6,252 sq. ft. lot, this property features approximately 5,408 sq. ft. of building area with four spacious 2-bedroom, 1-bathroom units. The property currently generates $8,350 in monthly rental income, with one unit to be delivered vacant at close of escrow, offering an immediate opportunity to establish market rent and enhance cash flow. The vacant unit is projected to achieve approximately $3,295 per month, bringing potential stabilized gross rental income to approximately $11,645 monthly or $139,740 annually. Based on projected income and estimated annual operating expenses of $36,757, the property offers an estimated stabilized NOI of $102,983 and an approximate 5.28% cap rate at the asking price. The property's LAR3 zoning also provides an opportunity to explore additional development potential, including possible ADU opportunities, subject to zoning, city approvals and feasibility. Ideally positioned in the heart of Beverly Grove, the property boasts a Walk Score of 80 and convenient access to Whole Foods Market, The Grove, Original Farmers Market, LACMA, Petersen Automotive Museum, Beverly Center, Melrose Avenue and the El Rey Theatre. The location also offers proximity to public transportation and the Metro D Line (Purple Line) extension, providing future connectivity between the Westside and Downtown Los Angeles. Combining an established rental portfolio, immediate income upside, potential development opportunities and a highly sought-after central Los Angeles location, this offering presents an attractive value-add opportunity for multifamily investors, owner-operators and 1031 exchange buyers seeking long-term appreciation and equity growth. **Offered at $1,950,000.**
Location
State CA
County Los Angeles
Area C19 - Beverly Center-Miracle Mile
Interior
Heating Central
Cooling Wall/Window Unit(s)
Fireplaces Type None
Fireplace No
Appliance Washer
Laundry Washer Hookup
Exterior
Parking Features Garage
Garage Spaces 4.0
Garage Description 4.0
Pool None
Community Features Curbs, Sidewalks
Total Parking Spaces 4
Private Pool No
Building
Lot Description 2-5 Units/Acre
Story 2
Sewer Public Sewer
Water Public
New Construction No
Others
Senior Community No
Tax ID 5510023036
Acceptable Financing Cash, Cash to Existing Loan, Cash to New Loan, Conventional, Submit
Listing Terms Cash, Cash to Existing Loan, Cash to New Loan, Conventional, Submit
Special Listing Condition Standard
