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616 S Ford BLVD East Los Angeles, CA 90022
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Key Details
Sold Price $920,000
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
MLS Listing ID CV20198042
Sold Date 10/30/20
HOA Y/N No
Year Built 1947
Lot Size 6,534 Sqft
Property Description
Attention Investors- Looking for an investment property that is meticulously maintained, comes with paying tenants, and has lucrative rental rates in place? Than this is the one! 4 pride of ownership units offered for sale located in the heart of East Los Angeles. The property consists of all single-story units distributed amongst 3 separate structures. The first structure is a duplex, of which both units are 1 bedroom/1 bathroom. This building has undergone a major renovation with new copper plumbing, new main electrical panel, new individual subpanels, new electrical wiring throughout including plugs and switches, as well as fully remodeled modern style kitchens and bathrooms. These 2 units also have individual washer/dryer hookups as well as brand new appliances. The second structure is a detached 1 bed/1bath cottage with private washer/dryer hookups. The third structure is a detached 2bed/1bath cottage with private washer/dryer hookups. All units 100% tenant occupied and all rental payments current. All structures have brand new vinyl windows, as well as brand new exterior stucco. Driveway and parking area was recently replaced with brand new concrete and offers 6 tandem parking spaces. All units are separately metered for Electricity and Gas while the owner pays for water and trash. Great rental location close to schools, shopping and transportation. Great opportunity to buy Los Angeles real estate at a 5+%CAP Rate, and 14 GRM, which all amounts to positive cash-flow!
Location
State CA
County Los Angeles
Area Ela - East Los Angeles
Zoning LCR3YY
Interior
Fireplace No
Laundry In Kitchen, Stacked
Exterior
Parking Features Assigned
Pool None
Community Features Curbs, Gutter(s), Sidewalks
Total Parking Spaces 6
Private Pool No
Building
Lot Description 2-5 Units/Acre
Story One
Entry Level One
Sewer Public Sewer
Water Public
Level or Stories One
New Construction No
Others
Senior Community No
Tax ID 5247011003
Acceptable Financing Cash, Cash to New Loan
Listing Terms Cash, Cash to New Loan
Financing Conventional
Special Listing Condition Standard
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Bought with KRISTOPHER GERMAN • RE/MAX 2000