1445 N Avenue 47, Los Angeles, CA, 90042

  • $5,995,000
  • $5,995,000
1445 N Avenue 47 , Los Angeles, CA 90042
Active For Sale
1445 N Avenue 47 , Los Angeles, CA 90042
  • $5,995,000
  • $5,995,000

Description

Huge 500k Price Reduction! 18 Unit building plus 4 Attached RTI ADUs with 8 renovated vacancies priced at only 285k/door. All vacant units and ADUs are under construction so buyers can complete them with their own taste/finishes. (Remodels are in the final stages, ADUs just started). Incredible Current 6.1% Cap Rate and 11.8 GRM with an upside to 8.6% Cap Rate and 9.1 GRM. Easy to Rent Unit Mix consisting of 2 (2bed/2bath), 2 (2bed/1bath), 16 (1bed/1bath). Individually metered for Gas & Electricity, parking with soft-story already completed, and prelim plans for 2 Detached ADUs for future upside. Excellent opportunity to acquire a turnkey apartment building in one of LA’s hottest neighborhoods in Highland Park just steps away from all the hip restaurants, bars, and shops on the Famous York Blvd. Price/Unit, Cap Rate, & GRM are based on Total Price for sake of conservatism, which includes construction costs of 4 attached RTI ADUs 1,470 SF at 200/SF (294k).

  • Address 1445 N Avenue 47
  • City Los Angeles
  • State/county CA
  • Zip/Postal Code 90042

Details

Updated on January 31, 2023 at 12:45 am
  • Property ID: 23235241
  • Price: $5,995,000
  • Land Area: 0.3450 Acres
  • Year Built: 1963
  • Property Type: Residential Income
  • Property Status: Active

Additional details

  • Appliances: Refrigerator
  • Heating: Wall Furnace
  • Cooling: Wall/Window Unit(s)
  • Zone: LARD3
  • Parking: None
  • Days On Market: 8
  • LotSize SquareFeet: 15030.00

Listed by

Global Platinum Properties, Inc.
Agent Name : Julio Ruiz
Agent State License : 01911261

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