Listing provided courtesy of Filip Niculete of Marcus & Millichap. Last updated 2021-04-07 08:10:55.000000. Listing information © 2020 Sandicor.
Asking Price: $599,000
841 74Th, Los Angeles CA 90044
Community: C36 - Metropolitan Southwest
This property was built in 1910 and is priced at $599,000. Please see the additional details below.
- 0 Sq Ft
- 0 bathrooms
- 0 bedrooms
- MLS#: 21715822
- Year Built: 1910
We are pleased to present this bite size deal in South Los Angeles. This 4-unit property sits on a 5,602 sq.ft lot (0.13 acres), has a total building size of 2,238 sq.ft., and boasts a good unit mix of (2) 1-bed/1-bath units, (1) 2-bed/1-bath ADU, and (1) 3-bed/1-bath house. This property is currently 3 legal units with 1 non-conforming unit which is a converted garage. However, the Seller has just received fully approved RTI plans to legally convert the nonconforming unit to a legal ADU. The seller will be selling this property as-is, and the Buyer will be responsible for completing the ADU conversion. The Seller has received bids to complete this ADU work, and the cost will be between $50,000 to $60,000.Therefore, the buyer of this property should expect a total investment of up to $659,000 including the purchase price and ADU conversion cost. At this total cost, the buyers effective CAP rate will be 5.22% with the long-term value add potential of over 35% upside in rents. If the buyer was able to get all of the units to our very achievable market rents, the buyer will be able to achieve an extremely desirable 8.50% CAP rate and an estimated 17.81% cash-on-cash return!