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343 W 89Th St

Los Angeles, CA 90003
  • $2,650,000
  • STATUS: Active
  • ON SITE: 9 days
  • ID#: 21-762154
UPDATED: 25 min ago
$2,650,000
  • 20
    BEDS
  • 0.24
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 7,861
    SQFT
  • $337
    $/SQFT
Neighborhood:
Type:
Multi-Family
Built:
1964
County:

School Ratings & Info

Description

We are proud to present this 10-unit apartment building located at 343 West 89th Street in the 90003 zip code of Los Angeles. With close proximity to the 110 Freeway, as well as main thoroughfares like Manchester Avenue, the subject property provides an easy commute to downtown L.A. and beach cities to the West for the residents enjoyment. The 7,861 square foot property sits on a double lot that measures 10,500 square feet and with a very attractive unit mix of all 2 Bedroom / 1 Bathroom units, making it perfect for families and/or tenants living with roommates. The property also provides ample on-site parking for tenants in the rear of the building. The property is currently 100% occupied and with all Section 8 tenants, providing the investor with strong, secure cash flow which can be hard to come by in this post-pandemic era! The property is purely value-add, so a new investor can add significant value to the asset by making simple touch-ups and renovations to improve the systems and aesthetics of the property. Another way an investor could create additional value would be to add ADUs onto the rear parking lot. The new ADU program that was rolled out state-wide at the beginning of 2020 has offered investors an easy road map to increase income, and the ease in which investors are able to get plans for ADUs permitted and approved has alleviated potential suitors a lot of the stresses that come along with developing and dealing with the city.

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Based on information from the Combined LA/Westside Multiple Listing Service as of 2021-07-27T14:42:55.727. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
www.brandiprattrealestate.com/homes/119424976
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343 W 89Th St Los Angeles, CA 90003

  • Price: $2,650,000
  • Status: Active
  • Updated: 25 min ago
  • ID#: 21-762154
20
Beds
0
Baths
0
½ Baths
0.24
Acres
7,861
SQFT
$337
$/SQFT
1964
Built
Neighborhood:
Metropolitan South
County:
Los Angeles
Area:
Metropolitan South
Property Description
We are proud to present this 10-unit apartment building located at 343 West 89th Street in the 90003 zip code of Los Angeles. With close proximity to the 110 Freeway, as well as main thoroughfares like Manchester Avenue, the subject property provides an easy commute to downtown L.A. and beach cities to the West for the residents enjoyment. The 7,861 square foot property sits on a double lot that measures 10,500 square feet and with a very attractive unit mix of all 2 Bedroom / 1 Bathroom units, making it perfect for families and/or tenants living with roommates. The property also provides ample on-site parking for tenants in the rear of the building. The property is currently 100% occupied and with all Section 8 tenants, providing the investor with strong, secure cash flow which can be hard to come by in this post-pandemic era! The property is purely value-add, so a new investor can add significant value to the asset by making simple touch-ups and renovations to improve the systems and aesthetics of the property. Another way an investor could create additional value would be to add ADUs onto the rear parking lot. The new ADU program that was rolled out state-wide at the beginning of 2020 has offered investors an easy road map to increase income, and the ease in which investors are able to get plans for ADUs permitted and approved has alleviated potential suitors a lot of the stresses that come along with developing and dealing with the city.
Exterior Features

Lot Size Area 10500 Other Structures None Parking Garage Other Total Parking 0

Interior Features

Baths Total 10.00 Cooling Other Equipment Other Heating Other

Property Features

Assessed Total Value 259879 Gross Income 202032 Gross Operating Income 197171 Like Units1 10 Net Operating Income 130548.00 Number Of Buildings 2 Number Of Units 10 Sale Type Standard Source Living Area Vendor Enhanced Source Lot Size Area Vendor Enhanced Total Annual Expense 66623 Type Of Units Market Year Built Source Vendor Enhanced Zoning Lard1.5

Listing provided courtesy of Filip Niculete DRE#01905352 of Marcus & Millichap.


Based on information from the Combined LA/Westside Multiple Listing Service as of 2021-07-27T14:42:55.727. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
 
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eXp Realty of California, Inc.
2603 Camino Ramon, Suite 200
San Ramon CA, 94583