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$ 3,575,000
Est. payment /mo
New
1201 E 59th Place Los Angeles, CA 90001
12 Beds
8 Baths
0.26 Acres Lot
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Active
Purchase Type For Sale
MLS Listing ID DW26243037
Bedrooms 12
Lot Size 0.257 Acres
Property Sub-Type Res Income 2-4 Units
Property Description
Newer modern 8 unit Townhome style building in the desired part of Los Angeles, bordered line with Huntington Park and only 7 miles from DTLA! Property is selling at approximately 6% CAP (real rent, real numbers). This complex is close to major transits. Only couple blocks from the Blue Line Station that has quick access to get to Downtown LA and Downtown Long Beach (76 Walk Score). Investors get to enjoy a nice cash flow off this home with an actual stabilized asset bringing in $285,900 in gross annual rents. Property has total of 20 bedrooms and 16 baths. All buildings offer a 3 bedroom, 2 bath (4 units 3/2) and a 2 bedroom, 2 bath (4 units 2/2). This apartment complex has all the modern touches in todays market such as laminate flooring, recessed lighting, quarts countertops on kitchen, central AC, washroom, PAID OFF solar systems, and very low expenses as all units have separate utilities including water meters. This complex was design for you as the new owner to guarantee long terms tenants. This one spacious 11,200 lot size accommodates parking for all tenants. Property offers 12 car garage and about 7 open parking spaces. This is a big incentive for the tenants. Near retailers include Mc Donalds, Chase, Starbucks, CVS Pharmacy, Citi Bank, North Gate Market, Wing Stop, Panda Express (all walking distance) and many more. This by far one of the best properties in the Florence-Graham district, check it out before is gone!
Location
State CA
County Los Angeles
Zoning Public Rec
Direction 59h and hooper
Interior
Cooling Central Forced Air
Fireplace No
Exterior
View Y/N No
Building
Story 2
Level or Stories 2
Others
Senior Community No
Tax ID 6008008031
Acceptable Financing Cash, Conventional, Exchange, Land Contract
Listing Terms Cash, Conventional, Exchange, Land Contract
Listed by Daniel Terrazas, DRE#02019893 VIP RE Firm
NEARBY SCHOOL & BUSINESS