Property Description
NEWLY PRICED AT CAP RATE OF 6%! Modern spacious triplex newly built in 2019, centrally located with easy access to freeways, restaurants, shopping, and more. This unit is neither under state nor city rent control, offering an extremely unique opportunity to take advantage of rapidly rising rental costs in Los Angeles without being hamstrung by local laws that limit most units from raising rent to prevailing market rates. The front home is a completely independent, detached home with 4 beds, 3 baths, 1,700 square feet, and a two car garage. Building at the rear of the lot is more private, each unit also containing 4 beds, 3 baths, and 1,561 square feet. All units promise consistent cash flow (two units are guaranteed by Section 8) and all are designed with open living space floorplans, primary bedrooms, and in-unit laundry. Due to the units being brand new construction as of 2019, there are close to zero maintenance costs and the new construction building warranty guarantees the new owner against latent hidden repairs and/or costs. Hardscaped exterior driveways allow for ample parking, with additional yard space secured by a gate, which also adds extra security for the grounds. All units are separately metered for gas, electricity, and water and the lease requires each tenant to pay his or her own utilities, which further saves the owner monthly expenses. In addition to rental income that is not capped, there is significant potential for appreciation on this property with the upcoming nearby Olympic events, expanding public transportation system, and an influx of investment into the area. Priced at a cap rate of 6% this deal is a no-brainer. Owner self manages the property but is moving out of state and will be utilizing sale proceeds to fund 1031 out of state purchase.
Features
: No
: Central
: Central Air
: No
: No
: 6
: Driveway, Attached Carport
Address Map
U.S.
California
Los Angeles
Los Angeles
90044
645 W 97th Street
0
W119° 42' 49.2''
N33° 56' 54.4''
MLS Addon
$0
4,800 Sqft
: No
: No
6.1
90
North of Vermont, west of 110.
45x140
: No
2

Residential Income For Sale Los Angeles

645 W 97th Street, Los Angeles, Los Angeles, California, 90044

12 Bedrooms
4,800 Sqft
Visits : 1 in 99 days
$2,099,000
Listing ID #23285563
Basic Details
Property Type : Residential Income
Listing Type : For Sale
Listing ID : 23285563
Price : $2,099,000
Bedrooms : 12
Square Footage : 4,800 Sqft
Year Built : 2019
Lot Area : 6,301 Acre
Status : Active
Agent info
Damian M. Ramirez
Damian M. Ramirez
  • 01974515
  • 1213238
  • PWDAMRA
Broker
Broker
A level-headed and composed professional.  Combat veteran and experienced CEO with the ability to train and motivate staff to meet challenging performance targets and consistently satisfy clients with high-quality service.
Contact Agent
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