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.
Listing courtesy of Derrick Vartanian from Keller Williams Silicon Beach
Based on information from California Regional Multiple Listing Service, Inc. as of . 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 usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.