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Listed by Kristopher German • RE/MAX 2000 REALTY
$ 1,650,000
Est. payment | /mo
4,864 SqFt
$ 1,650,000
Est. payment | /mo
4,864 SqFt
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 4,864 sqft
Price per Sqft $339
MLS Listing ID CRCV25099407
HOA Y/N No
Originating Board Datashare California Regional
Year Built 1962
Lot Size 0.480 Acres
Property Sub-Type Other
Property Description
Private Seller Financing Available! We are pleased to exclusively offer for sale this rare offering featuring five LARGE single-story detached cottages situated on a spacious 20,892 square foot lot, presenting an ideal "value-add" investment opportunity. The property consists of one 3-Bedroom/1-Bath cottage and four 2-Bedroom/1-Bath cottages, totaling 4,864 square feet of rentable space. With three of the units to be delivered vacant at the close of escrow, investors have the immediate opportunity to bring rents to market, achieving a projected 5.82% CAP rate and 12.5 GRM. Each cottage offers tenants private garage parking, individual washer/dryer hookups, and either a private patio or front and back yard space—features that significantly enhance tenant satisfaction and leasing demand. A permitted sixth structure on the property which is currently used as storage offers excellent potential for conversion into an ADU, creating additional income potential (buyer to check with proper city authorities). Utility efficiency is built in with five separate electric & gas meters and two water meters (one for the front cottage and one for the remaining 4 units). Private Seller Financing is available with favorable terms: 25% minimum down payment, 6.5% interest-only payments, and a 7-year
Location
State CA
County Los Angeles
Interior
Heating Other
Cooling Wall/Window Unit(s)
Fireplace No
Laundry Other
Exterior
View None
Building
Water Public
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