Description
MAJOR PRICE REDUCTION, only ~$100,000/Unit!! We are pleased to present for sale an incredible VALUE ADD income opportunity located in the heart of East Los Angeles! Comprised of 16 VACANT SRO Units (16 single rooms with 3 shared bathrooms + 4 toilets) + a detached duplex (1 BD/1 BA each, one unit paying $925/month, the other $775/month), this property affords an investor a chance to reposition the building for maximum cash flow!! In addition, owner is in the final stages of getting approved plans to convert all SRO units into individual studios with their own bathrooms AND approved plans to add a 3rd unit to the front duplex = significant further income potential!!! Proforma income of almost $25,000/month! Electrical permits have been completed to install combo smoke and carbon monoxide detectors throughout the property. Brand new roof has been installed for the front duplex. The property is centrally located in East LA with convenient access to downtown LA, East LA College, USC Medical Center, and all shops & retail on Whittier Blvd!! Excellent opportunity for senior living, homeless housing, or any other non-profit use! Do not miss your chance to purchase a CLEAN SLATE with tons of upside in a high rental demand area of Los Angeles. Floorplans available upon request. Contact listing agent for more details or to setup a showing.
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18BEDS
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0.11ACRES
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0BATHS
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01/2 BATHS
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4,631SQFT
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$399$/SQFT
School Ratings & Info
Description
MAJOR PRICE REDUCTION, only ~$100,000/Unit!! We are pleased to present for sale an incredible VALUE ADD income opportunity located in the heart of East Los Angeles! Comprised of 16 VACANT SRO Units (16 single rooms with 3 shared bathrooms + 4 toilets) + a detached duplex (1 BD/1 BA each, one unit paying $925/month, the other $775/month), this property affords an investor a chance to reposition the building for maximum cash flow!! In addition, owner is in the final stages of getting approved plans to convert all SRO units into individual studios with their own bathrooms AND approved plans to add a 3rd unit to the front duplex = significant further income potential!!! Proforma income of almost $25,000/month! Electrical permits have been completed to install combo smoke and carbon monoxide detectors throughout the property. Brand new roof has been installed for the front duplex. The property is centrally located in East LA with convenient access to downtown LA, East LA College, USC Medical Center, and all shops & retail on Whittier Blvd!! Excellent opportunity for senior living, homeless housing, or any other non-profit use! Do not miss your chance to purchase a CLEAN SLATE with tons of upside in a high rental demand area of Los Angeles. Floorplans available upon request. Contact listing agent for more details or to setup a showing.
Based on information from California Regional Multiple Listing Service, Inc. as of 2023-05-29T11:25:46.337. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Beach City Brokers | BCB Premier Estates | The Miller Group. Licensed in the State of California, USA.