151 S Mountainview Ave Active Save Request In-Person Tour Request Virtual Tour
Los Angeles,CA 90057
Key Details
Property Type Multi-Family
Sub Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 6,536 sqft
Price per Sqft $351
MLS Listing ID 25550839
Bedrooms 10
Year Built 1954
Lot Size 6,388 Sqft
Acres 0.1461
Property Sub-Type Multi-Family
Property Description
10-unit building with 6 fully renovated units (100% occupied) Cash flowing at an amazing 7.2% Cap Rate from day 1 with upside to 10.8% Cap on Proforma. Fully Approved RTI plans to add 2 Attached ADUs to achieve a remarkable 8.8% Current Cap Rate, 12.6% Proforma Cap Rate, and only 214k/door after taking into account all constructions costs (assuming $250/SF). All units are individually metered for Electricity and gas, and tenants pay for Trash. Rare 8 vacant single Car Garages for additional income and ADU potential. RTI plans to add 2 Attached ADUs in the garages will eliminate/reduce the soft-story scope of work and cost. Easy to rent unit mix consisting of 10 large (1 bed/1 bath) units. 6 units have been fully remodeled and boast new modern cabinets, flooring, lighting, new bathrooms, and significant exterior improvements. This property is located in the trendy & historic Filipino Town just minutes away from Echo Park, Silverlake, DTLA as well as many hip neighborhood attractions, restaurants, bars, and shops such as Brooklyn Bagel Bakery, Boba Guys - Rideback Ranch, HiFi Kitchen, and Laveta Coffee, popping up all around the area.
Location
State CA
County Los Angeles
Area Downtown L.A.
Zoning LAC2
Rooms
Other Rooms None
Interior
Heating Wall Electric
Cooling Ceiling Fan
Flooring Laminate, Ceramic Tile
Equipment Refrigerator
Exterior
Parking Features Attached
Garage Spaces 8.0
Building
Story 2
Level or Stories Two
Others
Special Listing Condition Standard