$ 1,150,000
1719 Miramar ST Los Angeles, CA 90026
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$ 1,150,000
Est. payment /mo
New
1719 Miramar ST Los Angeles, CA 90026
10 Beds
4 Baths
3,540 SqFt
UPDATED:
10/16/2024 01:34 AM
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 3,540 sqft
Price per Sqft $324
MLS Listing ID 24453333
Bedrooms 10
HOA Y/N No
Year Built 1910
Lot Size 4,203 Sqft
Acres 0.0965
Property Description
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. 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.
Location
State CA
County Los Angeles
Area C42 - Downtown L.A.
Zoning LAR3
Rooms
Ensuite Laundry None
Interior
Laundry Location None
Heating Wall Furnace
Fireplace No
Laundry None
Exterior
Garage Driveway
Parking Type Driveway
Building
Story 2
Entry Level Two
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 5153002024
Special Listing Condition Standard
Listed by John McCann • Lyon Stahl Investment Real Estate, Inc.