1719 Miramar Street, located in the heart of Los Angeles, presents a clean investment opportunity with significant rental upside. This 4-unit building features a total of 3,540 sq. ft. of rentable space on a 4,200 sq. ft. lot, with a mix of large units two currently operating as 2-bedroom, 1-bathroom… Read More units, and two as 3-bedroom, 1-bathroom units. Originally built in 1910, the property has been well-maintained with recent termite tenting, a new roof, copper plumbing, and an ABS main line. Each unit is individually metered, and the property offers ample parking at the rear. Currently generating $7,446 per month ($89,352 annually) with $60,899 in net income, the property has a 5.24% cap rate and a 12.87 GRM. With a 21% rental upside, the potential gross income could rise to $9,000 per month ($108,000 annually) with a net income of $79,322, boosting the cap rate to 6.84% and improving the GRM to 10.65. Priced at $1,150,000, this property reflects approximately $325 per rentable square foot and $287,500 per door, making it an attractive proposition for investors looking for immediate cash flow with significant upside potential in an up and coming Los Angeles location. Read Less
Property listed by Lyon Stahl Investment Real Estate, Inc., John McCann 310-425-9838
Listing Snapshot
Days Online
28
Last Updated
Property Type
Other
Beds
10
Square Ft.
3,540
Lot Size
0.1 Acres
Year Built
1910
MLS Number
24453333
30 Days Snapshot Of 90026
$1,320k
+3%
(avg) sold price
10
-56%
homes sold
73
0%
(avg) days on market
Snapshot
Area Map
Additional Details
Building
Built in 1910, Building area total: 3,540, Levels: Two, Living area: 3540, 2 stories, 1 building
Heating
WallFurnace
Income
Gross income: $89,352, Net operating income: $60,274
Laundry
None
Lot
0.0965 acres, 4,202 square feet, Size: 4,202
Parking
Driveway
Property
Zoning: LAR3
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Based on information from California Regional Multiple Listing Service, Inc. as of and/or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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