$1,360,000
$1,375,000
1.1%For more information regarding the value of a property, please contact us for a free consultation.
7 Beds
8 Baths
5,656 SqFt
SOLD DATE : 09/25/2024
Key Details
Sold Price $1,360,000
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Square Footage 5,656 sqft
Price per Sqft $240
MLS Listing ID 24382455
Sold Date 09/25/24
Bedrooms 7
HOA Y/N No
Year Built 1923
Lot Size 5,536 Sqft
Property Description
This property is priced to sell! Only $243/SF! Listed at 11.74 GRM on current rents, a 6.13% CAP rate, and plenty of room to grow on rents, this is an excellent opportunity for an investor who wants to own a cash flowing property in an irreplaceable area. Call for a full marketing package w/financials. Welcome to East Los Angeles, a warm and vibrant community rich with cultural history and deep roots. The subject property is a well known local gem situated along one of the most well known blocks east of the 710 Fwy. It sits directly across from the famous La Azteca Tortilleria and adjacent to the historic El Gallo Plaza and the landmark Our Lady of Soledad Church. Also nearby are Cities Nightclub and El Gallo Restaurant and Bakery. The offering includes two structures: The front structure features 2 ground floor retail storefronts and a large 2nd floor 3Br apartment with patio. In the rear is a separate quadruplex with all 1Br+1Ba apts. Given that this is unincorporated Los Angeles, the 5 units are not subject to City of LA Rent Control, only County of LA. All in all, this is an incredible opportunity to purchase an iconic piece of East LA history.
Location
State CA
County Los Angeles
Area Ela - East Los Angeles
Zoning LCC3*
Interior
Fireplaces Type None
Fireplace No
Appliance Disposal
Laundry None
Exterior
Parking Features None
Pool None
View Y/N No
View None
Porch Rooftop
Private Pool No
Building
Faces South
Story 2
Entry Level Two
Sewer Sewer Tap Paid
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 5235004025
Security Features Carbon Monoxide Detector(s),Smoke Detector(s)
Special Listing Condition Standard
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Bought with Dana Coronado • Compass