1301 E 59Th Pl

Estimated Monthly Payment: $6,840/mo 1301 E 59Th Pl, Los Angeles, CA 90001 MLS# 21-726834 Residential Income Listing Status: Active
8
4,924 sqft
51
25
0
0

REMARKS:

We are pleased to present 1301 E 59th Place -a seven (7) unit multifamily investment opportunity located in the Florence-Graham submarket of Los Angeles, CA and built in 1949. This property is not subject to Los Angeles city rent control; however, it is subject to California Assembly Bill 1482(Buyer to Verify). The two (2) story property consists of six (6) One Bedroom / One Bath units and one (1) Two Bedroom/ Two Bath unit that are 100% occupied. The property has been well-maintained and features the following upgrades:Units contain new kitchens with all new appliances along with new fixtures, a new exterior gate, and the entire exterior of the property was just painted. The property has a total of nine (9) parking spots. Situated on a 6, 081 SF lot with 4, 924 SF of building space, the building offers a spacious amount of room for each unit. The offering is priced at 12.65 GRM and 5.18% CAP, which are attractive rates in this active and emerging market. 1301 E 59th Place will benefit an investor with high returns, room to raise rents by modernizing the interiors, and providing a strong CAP rate and extremely low annual expenses. With historically high rental demand in the Florence Multi-Family submarket of Los Angeles, an investor can benefit from receiving strong rental income from a well-maintained property that provides on-site parking.

OVERVIEW:

Residential Income
Active
1949
0.14
4924
None
Gated, Uncovered
Wall
None

FEATURES:

Other

ROOM INFO:

8

FINANCIAL:

$1,500,000

NEIGHBORHOOD & SCHOOL INFORMATION:

Broker Reciprocity Courtesy of Derrick Vartanian - Keller Williams Silicon Beach

 

01949460 

 

The data relating to real estate for sale on this web site comes in part from the Combined L.A./Westside MLS. Real estate listings held by brokerage firms other than Keller Williams Realty/Marina-LA are marked with the IDX logo.

 

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Data last updated: 07/30/2021