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Key Details
Sold Price $2,650,000
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
MLS Listing ID AR16718881
Sold Date 12/12/16
HOA Y/N No
Year Built 1964
Property Description
21 Units located in the heart of Reseda. The property is separately metered for both electricity and gas. Property offers gated parking, and excellent unit mix of three 2+2, one 2+1, ten 1+1 and seven 0+1 units in this mid-century modern garden style building. Upper units offer the charm of post, and beam ceilings. The spacious units have generous upside in rents. Six studio units are subject to low income screening guidelines. Laundry room not used, additional income for potential Buyer. Low expense ratio, stable tenant profile, new roof and significant upside makes this property excellent investment for an astute investor seeking a value add opportunity. Priced at only $141,667 per door with projected income for next year of over $217,000. This property will not last long! Seller will offer $100,000 credit to Buyer for legal expenses.
Location
State CA
County Los Angeles
Area Res - Reseda
Zoning LAR3
Interior
Fireplace No
Exterior
Pool None
Community Features Curbs, Street Lights, Sidewalks
Private Pool No
Building
Story Two
Entry Level Two
Sewer Public Sewer
Water Public
Level or Stories Two
Others
Tax ID 2125017003
Acceptable Financing Cash, Conventional, 1031 Exchange
Listing Terms Cash, Conventional, 1031 Exchange
Financing Conventional
Special Listing Condition Standard
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Bought with General NONMEMBER • CRMLS