CA > Los Angeles
Los Angeles, CA 90026,1719 Miramar St
Los Angeles, CA 90026,1719 Miramar St
Los Angeles, CA 90026,1719 Miramar St
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Shawn Kormondy

Shawn Kormondy

+1(323) 638-7567
$1,150,000
Est. payment /mo
10 Beds
4 Baths
3,540 SqFt
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UPDATED:

10/23/2024 07:01 AM

Key Details

Property Type Multi-Family

Sub Type Multi-Family

Listing Status Active

Purchase Type For Sale

Square Footage 3,540 sqft

Price per Sqft $324

MLS Listing ID 24-453333

Bedrooms 10

Year Built 1910

Lot Size 4,202 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 Downtown L.A.

Zoning LAR3

Rooms

Other Rooms None

Interior

Heating Wall

Cooling Window Unit(s)

Equipment None

Laundry None

Exterior

Garage Driveway

Building

Story 2

Level or Stories Two

Others

Special Listing Condition Standard

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TheMLS (CLAW)
The multiple listings information is provided by The MLSTM/CLAW from a copyrighted compilation of listings. The compilation of listings and each individual listing are ©2024 The MLSTM/CLAW. All Rights Reserved.

The information provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All properties are subject to prior sale or withdrawal. All information provided is deemed reliable but is not guaranteed accurate, and should be independently verified.

Listed by Lyon Stahl Investment Real Estate, Inc.

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Shawn Kormondy

+1(323) 638-7567

Agent | License ID: 01451888

Agent License ID: 01451888

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