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$1,150,000

Beds
4
sq ft
3,540

1719 Miramar St, Los Angeles, CA 90026

1719 Miramar St

Los Angeles, CA 90026

  • 69 days on market
1719 Miramar Street, located in the heart of Los Angeles, presents a clean investment opportunity with significant rental upside. This 4-unit building features a total of 3,540 sq. ft. of rentable space on a 4,200 sq. ft. lot, with a mix of large units two currently operating as 2-bedroom, 1-bathroom units, and two as 3-bedroom, 1-bathroom units. Tax records show all units are 1 bedroom / 1 bathroom. Originally built in 1910, the property has been well-maintained with recent termite tenting, a new roof, copper plumbing, and an ABS main line. Each unit is individually metered, and the property offers ample parking at the rear. Currently generating $7,446 per month ($89,352 annually) with $60,899 in net income, the property has a 5.24% cap rate and a 12.87 GRM. With a 21% rental upside, the potential gross income could rise to $9,000 per month ($108,000 annually) with a net income of $79,322, boosting the cap rate to 6.84% and improving the GRM to 10.65. Priced at $1,150,000, this property reflects approximately $325 per rentable square foot and $287,500 per door, making it an attractive proposition for investors looking for immediate cash flow with significant upside potential in an up and coming Los Angeles location.

Details

Property type

Lot size

4,202 sq ft

Price per sq ft

$325

Year built

1910

HOA

No

Price History

10/15/2024
CLAW

CLAW #24453333

Listed
$1,150,000

Schools & Community

Neighborhood: 

Westlake

Elementary school: 

Unknown

Middle school: 

Unknown

High school: 

Unknown

Status: Active

Tomo last checked: 12/23/2024 at 3:25 PM

Listing updated: 12/04/2024 at 9:35 PM

Listed by: John McCann, Lyon Stahl Investment Real Estate, Inc. Phone #: (310) 425-9838

MLS: CLAW #24453333

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