11688 S Central Ave, Los Angeles, CA 90059

$1,225,000
12
BD
8
BA
3,424
SqFt
Sold Price
$1,225,000
List Price
$1,225,000
Closing Date
Mar 25, 2022
MLS#
22-120829
Year Built
2003
Bedrooms
12
Bathrooms
8
Living Sq. Ft
3,424
Lot Size
5,504
Days on Market
33
Property Type
Multifamily
Stories
2

Property Description

Excellent investment opportunity for a stabilized four-unit 2003 constructed building in a transit-rich location. Los Angeles Section 8 Voucher payment standards have recently been increased to $2962 per month for 3 bedroom units. 6.27 cap conservative proforma and 6.92% cash on cash return conservative proforma with only a $300 per month/unit increase. Proforma numbers are right around the corner! This property is under statewide rent contol, not City nor County of Los Angeles rent control. You could be at proforma within 2-3 years. The building includes 2 parking spaces per unit and the additional lot that serves as the driveway from the back street. Plenty of room to build out a laundry area and perhaps even add an ADU in the current parking area.

Additional Information

Other Buildings
None
Kitchen Features
Tile Counters
Pool Description
None
Heat
Wall Gas
Cooling
None
View
None
Exterior Construction
Frame, Stucco
Number of Cars in Garage
None
Water
District
School District
Los Angeles Unified

Mortgage Calculator

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Calculator source: Real Geeks

Courtesy of , Melissa Barlow - CA DRE# Selling Office: .

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