Description
New list price gives much better gross multiplier and Cap rate than before. Please take another look. 10 unit apartment building in Harbor City plus an additional parcel of 4670 sq ft (parcel# 7413001030) which is a strip of land good for additional parking and possibly could be used for additional units. The stated lot size in the listing is the sum of both parcels. The property has full solar owned free and clear. There is onsite laundry and a vending machine which can produce income and there are 6 carports and approx 10 additional parking spaces. This property is just minutes from the 110 freeway and close to the LA Harbor. In July 2022 the property passed the LA City Systematic Code enforcement program (SCEP) inspection. Prior to this inspection in 2022: New hard wired smoke detectors were installed in 11 bedrooms and laundry room, new hard wired CO detectors and smoke detectors in all 10 living rooms. 3 new skylights were installed in the 3 stairwells. New carpet in the 3 stairwells to upper units. 3 new solid core doors were installed and painted. Unit 6 received new hardwood flooring and a new toilet. 5 new tub/shower mechanisms were installed. 4 new garbage disposals installed and 1 repaired. 5 vanity drawers were rebuilt. Some interior painting was completed. New asphalt driveway with slurry sealant was done in Feb 2023.Come February 1st it appears that all rents across the board can be increased 7% per LA CITY housing department. Stated rents in the analysis are based on Feb 1 2024 effective rent increases if those remain authorized by the city. Buyer to please v New list price gives much better gross multiplier and Cap rate than before. Please take another look. 10 unit apartment building in Harbor City plus an additional parcel of 4670 sq ft (parcel# 7413001030) which is a strip of land good for additional parking and possibly could be used for additional units. The stated lot size in the listing is the sum of both parcels. The property has full solar owned free and clear. There is onsite laundry and a vending machine which can produce income and there are 6 carports and approx 10 additional parking spaces. This property is just minutes from the 110 freeway and close to the LA Harbor. In July 2022 the property passed the LA City Systematic Code enforcement program (SCEP) inspection. Prior to this inspection in 2022: New hard wired smoke detectors were installed in 11 bedrooms and laundry room, new hard wired CO detectors and smoke detectors in all 10 living rooms. 3 new skylights were installed in the 3 stairwells. New carpet in the 3 stairwells to upper units. 3 new solid core doors were installed and painted. Unit 6 received new hardwood flooring and a new toilet. 5 new tub/shower mechanisms were installed. 4 new garbage disposals installed and 1 repaired. 5 vanity drawers were rebuilt. Some interior painting was completed. New asphalt driveway with slurry sealant was done in Feb 2023.Come February 1st it appears that all rents across the board can be increased 7% per LA CITY housing department. Stated rents in the analysis are based on Feb 1 2024 effective rent increases if those remain authorized by the city. Buyer to please verify this information.
-
5BEDS
-
0.34ACRES
-
0BATHS
-
01/2 BATHS
School Ratings & Info
Description
New list price gives much better gross multiplier and Cap rate than before. Please take another look. 10 unit apartment building in Harbor City plus an additional parcel of 4670 sq ft (parcel# 7413001030) which is a strip of land good for additional parking and possibly could be used for additional units. The stated lot size in the listing is the sum of both parcels. The property has full solar owned free and clear. There is onsite laundry and a vending machine which can produce income and there are 6 carports and approx 10 additional parking spaces. This property is just minutes from the 110 freeway and close to the LA Harbor. In July 2022 the property passed the LA City Systematic Code enforcement program (SCEP) inspection. Prior to this inspection in 2022: New hard wired smoke detectors were installed in 11 bedrooms and laundry room, new hard wired CO detectors and smoke detectors in all 10 living rooms. 3 new skylights were installed in the 3 stairwells. New carpet in the 3 stairwells to upper units. 3 new solid core doors were installed and painted. Unit 6 received new hardwood flooring and a new toilet. 5 new tub/shower mechanisms were installed. 4 new garbage disposals installed and 1 repaired. 5 vanity drawers were rebuilt. Some interior painting was completed. New asphalt driveway with slurry sealant was done in Feb 2023.Come February 1st it appears that all rents across the board can be increased 7% per LA CITY housing department. Stated rents in the analysis are based on Feb 1 2024 effective rent increases if those remain authorized by the city. Buyer to please v New list price gives much better gross multiplier and Cap rate than before. Please take another look. 10 unit apartment building in Harbor City plus an additional parcel of 4670 sq ft (parcel# 7413001030) which is a strip of land good for additional parking and possibly could be used for additional units. The stated lot size in the listing is the sum of both parcels. The property has full solar owned free and clear. There is onsite laundry and a vending machine which can produce income and there are 6 carports and approx 10 additional parking spaces. This property is just minutes from the 110 freeway and close to the LA Harbor. In July 2022 the property passed the LA City Systematic Code enforcement program (SCEP) inspection. Prior to this inspection in 2022: New hard wired smoke detectors were installed in 11 bedrooms and laundry room, new hard wired CO detectors and smoke detectors in all 10 living rooms. 3 new skylights were installed in the 3 stairwells. New carpet in the 3 stairwells to upper units. 3 new solid core doors were installed and painted. Unit 6 received new hardwood flooring and a new toilet. 5 new tub/shower mechanisms were installed. 4 new garbage disposals installed and 1 repaired. 5 vanity drawers were rebuilt. Some interior painting was completed. New asphalt driveway with slurry sealant was done in Feb 2023.Come February 1st it appears that all rents across the board can be increased 7% per LA CITY housing department. Stated rents in the analysis are based on Feb 1 2024 effective rent increases if those remain authorized by the city. Buyer to please verify this information.
This information is deemed reliable but not guaranteed. You should rely on this information only to decide whether or not to further investigate a particular property. BEFORE MAKING ANY OTHER DECISION, YOU SHOULD PERSONALLY INVESTIGATE THE FACTS (e.g. square footage and lot size) with the assistance of an appropriate professional. You may use this information only to identify properties you may be interested in investigating further. All uses except for personal, non-commercial use in accordance with the foregoing purpose are prohibited. Redistribution or copying of this information, any photographs or video tours is strictly prohibited. This information is derived from the Internet Data Exchange (IDX) service provided by San Diego MLS. Displayed property listings may be held by a brokerage firm other than the broker and/or agent responsible for this display. The information and any photographs and video tours and the compilation from which they are derived is protected by copyright. Compilation © 2023 San Diego MLS, Inc. Licensed in the state of California.