We are proud to present an exceptional Spanish style 4-unit building in the heart of West Adams. Built in 1930, the subject consists of four spacious 2 bedroom / 1 bath units each with Spanish style details and charm, in-unit washer/dryers, and individual water heaters. Located in an opportunity zone… Read More which can offer powerful tax incentives for investors. Recent improvements to the well-maintained building include exterior paint, new fencing surrounding the property, main sewer line replacement, roof weather coating, and interior remodeling of 2 units. Highly desirable corner lot at the intersection of Buckingham Rd and 29th St with 4 covered garages, 3 of which are vacant and can either be rented for at least $125 each or can be built into 1 or more ADUs to generate further rental income. With current rental upside of 34%, the building presents an amazing value add opportunity in an unbeatable location close to Downtown LA, the 10 freeway, and the Westside. All units are currently eligible for City of LA 4% annual rent increase, which buyer can implement immediately to bring annual income to $110,719.20 and GRM to 13.9! Read Less
Property listed by Keller Williams Realty Calabasas, Anie Mayelian 818-915-9118
Listing Snapshot
Days Online
24
Last Updated
Property Type
Quadruplex
Lot Size
0.16 Acres
Year Built
1930
MLS Number
SR25095596
30 Days Snapshot Of 90016
$590k
-27%
(avg) sold price
6
-45%
homes sold
95
+17%
(avg) days on market
Snapshot
Area Map
Additional Details
Building
Built in 1930, Building area total: 5,207, 2 buildings, Common walls: NoCommonWalls
Community
Curbs, StormDrains, StreetLights, Sidewalks
Expenses
Electric expense: $3,139, Insurance expense: $7,526, New taxes expense: $19,362, Operating expense: $33,147
Garage
4 spaces
Income
Gross income: $106,680, Net operating income: $70,331
Laundry
Inside
Lot
0.1607 acres, 7,000 square feet, Size: 7,000
Parking
4 totals parking
Pool
None
Property
Zoning: LARD1.5
Sewer
PublicSewer
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Based on information from California Regional Multiple Listing Service, Inc. as of and/or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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