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1038 Beacon Avenue

Los Angeles (City), CA 90015
  • $1,595,000
  • STATUS: Active
  • ON SITE: 19 Days
  • ID#: 22181213
Price Reduced
$1,595,000
  • 0
    BEDS
  • 0.18
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
Built:
1912
County:

School Ratings & Info

Listing Agent(s): Julio Ruiz of Global Platinum Properties, Inc. (818-524-0706) and Armin Soleimani of Global Platinum Properties, Inc.(818-524-0706)


Description

Price reduced! Once in a lifetime Now 100% Vacant 4 Fixer Units with preliminary plans to add 3 ADUs sitting on a large 8,000 SF R-3 Lot with Alley Access. This is a great value, priced at only 299k/door for vacant units with a huge upside to a 10% Cap Rate and 8.5 GRM after renovations. Individually metered for Gas & Electricity. Excellent location minutes from Koreatown, DTLA, Crypto.com Arena, and LA Live. Potential to build 1 Attached Studio ADU in the basement plus 2 detached 2-stories 1,005 SF 4 Bed 2 Bath ADUs in the back. Price/Unit, Cap Rate, & GRM are based on Total Price for sake of conservatism, which includes construction costs of ADUs.

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Based on information from California Regional Multiple Listing Service, Inc. as of 2022-08-09T00:27:42.27. 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 Villa Real Estate. Licensed in the State of California, USA.
www.thecharlieprice.com/homes/131101956
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1038 Beacon Avenue Los Angeles (City), CA 90015

  • Price: $1,595,000
  • Status: Active
  • On Site: 19 Days
  • ID#: 22181213
0
Beds
0
Baths
0
½ Baths
0.18
Acres
1912
Built
Neighborhood:
C42 - Downtown L.A.
County:
Los Angeles
Area:
C42 - Downtown L.A.
Property Description
Price reduced! Once in a lifetime Now 100% Vacant 4 Fixer Units with preliminary plans to add 3 ADUs sitting on a large 8,000 SF R-3 Lot with Alley Access. This is a great value, priced at only 299k/door for vacant units with a huge upside to a 10% Cap Rate and 8.5 GRM after renovations. Individually metered for Gas & Electricity. Excellent location minutes from Koreatown, DTLA, Crypto.com Arena, and LA Live. Potential to build 1 Attached Studio ADU in the basement plus 2 detached 2-stories 1,005 SF 4 Bed 2 Bath ADUs in the back. Price/Unit, Cap Rate, & GRM are based on Total Price for sake of conservatism, which includes construction costs of ADUs.
Exterior Features

Architectural Style Craftsman Direction Faces West Parking Features Uncovered Parking Total 2 View City Lights View YN Yes

Interior Features

Cooling None Cooling YN No Fireplace Features Kitchen Fireplace YN Yes

Property Features

Association Fee 0 Gross Income 240017 Listing Agreement Seller Reserved Listing Service Full Service Net Operating Income 210046 New Construction YN No Senior Community YN No Special Listing Conditions Standard Vacancy Allowance Rate 100 Zoning Lar3



Based on information from California Regional Multiple Listing Service, Inc. as of 2022-08-09T00:27:42.27. 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 Villa Real Estate. Licensed in the State of California, USA.
 
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Villa Real Estate
450 Newport Center Drive, Suite 100
Newport Beach CA, 92660
Listing Agent(s): Julio Ruiz of Global Platinum Properties, Inc. (818-524-0706) and Armin Soleimani of Global Platinum Properties, Inc.(818-524-0706)