$800,000
$850,000
5.9%For more information regarding the value of a property, please contact us for a free consultation.
5,662 Sqft Lot
SOLD DATE : 04/09/2021
Key Details
Sold Price $800,000
Property Type Multi-Family
Sub Type Duplex
Listing Status Sold
Purchase Type For Sale
MLS Listing ID SB21031286
Sold Date 04/09/21
HOA Y/N No
Year Built 2010
Lot Size 5,662 Sqft
Property Description
We are pleased to present this rare opportunity to purchase a newly constructed Duplex in an excellent, low supply submarket of Greater Los Angeles. The property features a Favorable Unit Mix of (2) Large 3 Bed/2 Bath Units with each spanning almost 1,600 Rentable SF. Despite the unparalleled size of each unit, the building's efficient footprint provides each tenant with their own Garage Parking Space. Most Importantly, due to its 2010 Construction, the building is not subject to A.B. 1482 and is thus not restricted when it comes to Rent Adjustments. Additionally, with the Record Low Interest Rates, this offering is poised for Excellent Income upon Acquisition, as well as substantial upside in the extended term. Moreover, this offering represents an Excellent Owner/User Opportunity as it is perfect for an investor looking to live in one unit and rent out the other in order to further offset their Debt Service.
Centrally located near the 5, 10, 60, 101, and 710 Freeways, the building offers easy access to all areas of Los Angeles and the vast employment opportunities therein, and also falls within close proximity to both Cal State Los Angeles & East Los Angeles College. In addition, the property is located within 3 miles to the bustling development and employment hub of Downtown LA. Downtown is already responsible for nearly 500,000 jobs and, with new projects continuing to break ground, City Terrace will remain one of its greatest beneficiaries.
Location
State CA
County Los Angeles
Area Cter - City Terrace
Zoning LCR2*
Interior
Interior Features Attic
Heating Central
Cooling Central Air, Gas
Flooring Carpet, Laminate, Tile
Fireplaces Type Bath
Fireplace Yes
Appliance Dishwasher
Laundry Gas Dryer Hookup, Inside
Exterior
Parking Features Garage
Garage Spaces 2.0
Garage Description 2.0
Fence Wrought Iron
Pool None
Community Features Street Lights, Sidewalks
View Y/N No
View None
Total Parking Spaces 2
Private Pool No
Building
Lot Description 0-1 Unit/Acre
Faces East
Story 1
Entry Level Two
Foundation Raised
Sewer Public Sewer
Water Public
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 5227027009
Acceptable Financing Cash, Conventional, 1031 Exchange, FHA, Fannie Mae
Listing Terms Cash, Conventional, 1031 Exchange, FHA, Fannie Mae
Financing Cash
Special Listing Condition Standard
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Bought with YUHAN YU • HARVEST REALTY DEVELOPMENT