$ 2,200,000
151 S Mountainview AVE Los Angeles, CA 90057
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$ 2,200,000
Est. payment /mo
New
151 S Mountainview AVE Los Angeles, CA 90057
10 Beds
10 Baths
6,536 SqFt
UPDATED:
11/14/2024 01:40 AM
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 6,536 sqft
Price per Sqft $336
MLS Listing ID 24463489
Bedrooms 10
HOA Y/N No
Year Built 1954
Lot Size 6,385 Sqft
Property Description
Amazing Current Cap Rate of 7.3% and 10 GRM with 43% upside to 11% Cap Rate and 7.2 GRM on proforma! Now offered with Higher Rents and 2 New Vacancies. Value-Add 10-unit building with 4 Fully renovated units with permits and 2 upcoming vacancies that can be renovated and leased for $2,407 per month (Previous rents were only $808). Priced at only $220k/door and $336/SF plus Fully Approved RTI plans to add 2 attached ADUs to improve the numbers to only 183k/unit, 10% Cap Rate, and 7.7 GRM on Current with upside to 14% Cap Rate and 5.8 GRM on Proforma after ADUs. All units are individually metered for Electricity and gas, and tenants pay for Trash. Rare 8 vacant single Car Garages for additional income and ADU potential. RTI plans to add 2 Attached ADUs in the garages will eliminate/reduce the soft-story scope of work and cost. Easy to rent unit mix consisting of 10 large (1 bed/1 bath) units. 4 units have been fully remodeled with permits and boast new modern cabinets, flooring, lighting, new bathrooms, and significant exterior improvements. This property is located in the historic Filipino Town just minutes away from Echo Park, Silverlake, DTLA as well as many hip neighborhood attractions, restaurants, bars, and shops such as Brooklyn Bagel Bakery, Boba Guys - Rideback Ranch, HiFi Kitchen, and Laveta Coffee, popping up all around the area.
Location
State CA
County Los Angeles
Area C42 - Downtown L.A.
Zoning LAC2
Interior
Flooring Laminate
Fireplace No
Appliance Refrigerator
Exterior
Attached Garage Yes
Total Parking Spaces 8
Building
Story 2
Entry Level Two
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 5154006009
Special Listing Condition Standard
Listed by Armin Soleimani • Global Platinum Properties, Inc.