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$1,150,000

Beds
6
sq ft
2,023

1631 E 88th St, Los Angeles, CA 90002

1631 E 88th St

Los Angeles, CA 90002

  • 129 days on market
Introducing an excellent investment opportunity for real estate investors! This property, located at 1631 E 88th St ,1629 E 88th St, and 1629 1/2 E 88th St in Los Angeles, CA 90002, is currently generating an impressive monthly income of $8,650. Comprising a total of 6 bedrooms and 4 bathrooms, this property offers ample space for tenants. two of the unit's have their own electrical and water meters, providing convenience and flexibility for both the landlord and tenants. Situated in a desirable location, this property presents a fantastic opportunity to expand your real estate portfolio. With its strong rental income potential, this investment promises a steady cash flow and a solid return on investment. Don't miss out on this lucrative deal!

Details

Property type

Est. home value

$710,699

Lot size

5,591 sq ft

Price per sq ft

$569

Year built

1958

HOA

No

Price History

05/14/2024
CLAW

CLAW #24392091

Listed
$1,150,000
-4.17%
04/23/2024
CLAW

CLAW #24344963

Removed
$1,200,000
04/06/2024
CLAW

CLAW #24344963

Pending
$1,200,000

Schools & Community

Elementary school: 

Unknown

Middle school: 

Unknown

High school: 

Unknown

Negotiation Insights

Before you make an offer, understand who you are negotiating with so you can tailor your negotiation strategy to their situation.

Seller could get up to

$372,367
Asking price
$1,150,000
Closing costs (~8% of asking)
-$92,000
Est. remaining loan balance
-$685,633
Cash to seller
$372,367

This is an estimate of how much the seller could receive at closing after paying off the outstanding mortgage.

Seller’s Loan History

Lender

Ocmbc Inc

Loan start date

July 2021

Original loan amount

$736,415

Est. remaining balance

$685,633

Interest rate

2.94%

Loan type

FHA, 30 year

Seller

Loule Arredondo

Source: Public records data

If you're the owner, you can request to remove loan details. Email listingsupport@tomo.com

How insights can help you

Interest rate

If the seller has a low interest rate, they may be tempted to rent the property out if they can't get the price they have in mind.

Motivation

If the seller already got a job in a different city, they may feel pressure to sell quickly to free up cash for a new home.

Equity

If the seller stands to receive a large amount of cash when they sell the property, they might be willing to negotiate on the offer price.

Interested in learning more?

Status: Active

Tomo last checked: 09/20/2024 at 11:45 PM

Listing updated: 05/22/2024 at 5:18 AM

Listed by: Monserrat Torres, Ambiance Realty Phone #: (424) 777-0320

MLS: CLAW #24392091

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