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Listed by BRIAN NGOY • Real Brokerage Technologies
$985,000
Est. payment /mo
8 Beds
4 Baths
3,288 SqFt
Active
3249 East 4th Los Angeles, CA 90063
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Key Details
Property Type Multi-Family
Sub Type Quadruplex
Listing Status Active
Purchase Type For Sale
Square Footage 3,288 sqft
Price per Sqft $299
MLS Listing ID WS-26189528
Bedrooms 8
Full Baths 4
Year Built 1963
Lot Size 4,975 Sqft
Property Sub-Type Quadruplex
Source California Regional Multiple Listing Service (CRMLS)
Property Description
Exceptional 4-UNIT BOYLE HEIGHTS INVESTMENT — $985,000 / APPROX. $299 PER SF and just $246,250 per existing unit! There is potential for 46% more gross rental income and 7.0% stabilized cap at the $985K asking price. Current rents totaling approximately $4,767.80 per month with upside to $8,800 per month. That increases the gross scheduled rent ($57,214 annual to approximately $105,600 annual. An increase of roughly $48,386 annually.
The biggest growth opportunity is in converting existing garage space into 2 ADU-conversions to bring in up to an additional $1,800 per month totalling $3,600 per month in additional income. The property goes from $8,800/month in projected market rent to $12,400/month 4+2 adus stabilized annual rents: $148,800/year. You will have approximately a 10.15% cap rate at $985,000.
The seller has completed substantial capital improvements during ownership, including a copper plumbing re-pipe approximately six years ago, upgraded electrical panel, exterior painting, roof maintenance, replacement of two tank-style water heaters and remodeled bathrooms in two units. The property has four separate electric meters and four separate gas meters. The major systems are set and ready to go. Overall, the property has been well maintained, reflecting pride of ownership, and offers significant rental upside potential.
The biggest growth opportunity is in converting existing garage space into 2 ADU-conversions to bring in up to an additional $1,800 per month totalling $3,600 per month in additional income. The property goes from $8,800/month in projected market rent to $12,400/month 4+2 adus stabilized annual rents: $148,800/year. You will have approximately a 10.15% cap rate at $985,000.
The seller has completed substantial capital improvements during ownership, including a copper plumbing re-pipe approximately six years ago, upgraded electrical panel, exterior painting, roof maintenance, replacement of two tank-style water heaters and remodeled bathrooms in two units. The property has four separate electric meters and four separate gas meters. The major systems are set and ready to go. Overall, the property has been well maintained, reflecting pride of ownership, and offers significant rental upside potential.
Location
State CA
County Los Angeles
Area Boyh - Boyle Heights
Interior
Cooling Wall/Window Unit(s)
Fireplaces Type None
Laundry Inside
Exterior
Garage Spaces 3.0
Pool None
Community Features Street Lights
View Y/N No
View None
Building
Lot Description Paved, 0-1 Unit/Acre
Sewer Public Sewer
Nearby Locations
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