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