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    1301 E 59Th Place

    Los Angeles (City), CA 90001
    • $1,500,000
    • STATUS: Active
    • ON SITE: 140 days
    • ID#: 21726834
    UPDATED: 27 min ago
    $1,500,000
    • 0
      BEDS
    • 0.13
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1949
    County:

    School Ratings & Info

    Description

    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.

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2021-09-22T12:30:45.567. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Wendy Rich-Soto and Associates | Keller Williams Realty, South Bay. Licensed in the State of California, USA.
    www.sellinglasouthbay.com/homes/116770884
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    1301 E 59Th Place Los Angeles (City), CA 90001

    • Price: $1,500,000
    • Status: Active
    • Updated: 27 min ago
    • ID#: 21726834
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.13
    Acres
    1949
    Built
    Neighborhood:
    C42 - Downtown L.A.
    County:
    Los Angeles
    Area:
    C42 - Downtown L.A.
    Property Description
    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.
    Exterior Features

    Parking Features GatedUncovered

    Interior Features

    Cooling None Cooling YN No Heating Wall Furnace Heating YN Yes

    Property Features

    Gross Income 118548 Listing Agreement Exclusive Right To Sell Listing Service Full Service Net Operating Income 77696 Senior Community YN No Special Listing Conditions Standard Vacancy Allowance Rate 0 Zoning Lcr3yy

    Listing provided courtesy of Derrick Vartanian of Keller Williams Silicon Beach and Jonathan Prakash of Keller Williams Silicon Beach


    Based on information from California Regional Multiple Listing Service, Inc. as of 2021-09-22T12:30:45.567. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Wendy Rich-Soto and Associates | Keller Williams Realty, South Bay. Licensed in the State of California, USA.
     
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    Wendy Rich-Soto and Associates | Keller Williams Realty, South Bay
    23670 Hawthorne Blvd. #100
    Torrance CA, 90505