CA > Los Angeles
Los Angeles, CA 90057,151 S Mountainview AVE
Los Angeles, CA 90057,151 S Mountainview AVE
Los Angeles, CA 90057,151 S Mountainview AVE
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The Warburton Team Brokered By EXp

The Warburton Team Brokered By EXp

+1(626) 630-2141
$2,200,000
Est. payment /mo
10 Beds
10 Baths
6,536 SqFt
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UPDATED:

11/21/2024 01:13 PM

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

Read Less Info
California Regional MLS (CRMLS)
Listed by Armin Soleimani • Global Platinum Properties, Inc.

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