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$650,000
Est. payment /mo
1 Bed
1 Bath
8,459 Sqft Lot
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Active
Purchase Type For Sale
MLS Listing ID CV26193403
Bedrooms 1
Lot Size 8,459 Sqft
Property Sub-Type Res Income 2-4 Units
Property Description
We are proud to present 5917 Converse Avenue and 1905 E 78th Street a two-property multifamily portfolio consisting of two separate 4-unit properties located in the Florence-Graham neighborhood of Unincorporated Los Angeles. The properties can be purchase together or individually. 5917 Converse Avenue offers approximately 2,550 SF of rentable living area across two separate structures situated on a generous 8,457 SF lot. The property consists of four 1-bedroom/1-bathroom units, averaging approximately 638 SF per unit. The property is currently generating just over $38,000 in annual rental income, equivalent to approximately $789 per unit per month. An investor familiar with prevailing market rents for comparable units in the surrounding area will recognize a significant opportunity to increase revenue, with the potential to capture more than $1,000 of additional monthly rental income per unit. Upon stabilization, the property offers the potential to achieve an approximately 9.69% CAP Rate and 7.47 GRM. The Florence-Graham neighborhood is a strongly renter-oriented market, with more than 65% of occupied housing units being renter-occupied. Strategically positioned near the I-110, I-105, and I-710 freeways, the portfolio offers convenient access to major employment centers throughout Los Angeles County. Downtown Los Angeles is approximately 6 miles north, providing access to one of the region's largest employment hubs. Tenants also benefit from proximity to the Florence Metro Station, providing rail connectivity to Downtown Los Angeles and Downtown Long Beach. Numerous groce
Location
State CA
County Los Angeles
Zoning Public Rec
Direction 60th St x Converse Ave
Interior
Fireplace No
Exterior
View Y/N No
Building
Story 2
Level or Stories 2
Others
Senior Community No
Tax ID 6008038018
Acceptable Financing Cash, Conventional, Exchange
Listing Terms Cash, Conventional, Exchange
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Listed by Justino Faaola, DRE#02038198 COMPASS
Nearby School & Business
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