930 Fraser Ave new Save Request In-Person Tour Request Virtual Tour
Los Angeles,CA 90022
Key Details
Property Type Multi-Family
Sub Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 4,631 sqft
Price per Sqft $367
MLS Listing ID 25573685
Bedrooms 18
Year Built 1929
Lot Size 4,921 Sqft
Acres 0.113
Property Sub-Type Multi-Family
Property Description
WOW! True 9.6% Cap Rate!!! We are pleased to present for sale the "Fraser Flats" a newly renovated & 100% fully leased multifamily opportunity located in the heart of East LA! The subject property consists of a front duplex with two 1 bd/1 ba units and 16 SRO style units (16 single rooms with 3 shared baths + 4 toilets for the community + communal kitchen). The property was completed gutted by the current owner who spent over $400,000 in upgrades including brand new HVAC, new Roof, Plumbing, Electrical, Flooring, Paint, Furniture & more! This location offers residents a quick commute to Downtown Los Angeles and is a Walker's Paradise with a walk Score of 93! The property is only steps away from dining and shopping on Whittier Blvd with several public transportation options nearby. Current rents yield an impressive annual gross income of ~$218,000 yielding an impressive GRM of just 7.8 and an unheard cap rate of 9.6%!!! There is an additional 20% upside in rents. Each SRO unit is fully equipped with a queen-sized bed, full sized stainless-steel refrigerator and stainless-steel microwave. Shared space for showering and doing laundry all conveniently near your apartment home. Bathrooms are separate from your apartment home but are private and in the community. The front duplex is comprised of two 1 BD/1 BA units that are tenant occupied and under RSO. Do not miss this opportunity to purchase a CASH COW located in a high rental demand neighborhood of Los Angeles! Do not disturb current tenants, showings with an accepted offer only. Call for more details or to inquire about attractive financing opportunities! (under 6% interest rate!)
Location
State CA
County Los Angeles
Area East La
Zoning LCP*
Rooms
Other Rooms Other
Interior
Heating Other
Cooling Other
Equipment Other
Exterior
Parking Features Other
Building
Story 2
Level or Stories Two
Others
Special Listing Condition Standard