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$ 1,100,000
Est. payment /mo
Price Dropped by $50K
1719 Miramar ST Los Angeles, CA 90026
4 Beds
4 Baths
3,540 SqFt
UPDATED:
02/04/2025 02:03 AM
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 3,540 sqft
Price per Sqft $310
MLS Listing ID 24453333
Bedrooms 4
HOA Y/N No
Year Built 1910
Lot Size 4,203 Sqft
Property Description
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 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 $7,758 per month ($93,096 annually) with $64,531 in net income, the property has a 5.87% cap rate and a 11.82 GRM. With a 16% 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 7.21% and improving the GRM to 10.19. Priced at $1,100,000, this property reflects approximately $311 per rentable square foot and $275,000 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.
Location
State CA
County Los Angeles
Area C42 - Downtown L.A.
Zoning LAR3
Interior
Heating Wall Furnace
Fireplace No
Laundry None
Exterior
Parking Features Driveway
Building
Story 2
Entry Level Two
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 5153002024
Special Listing Condition Standard
Listed by John McCann • Lyon Stahl Investment Real Estate, Inc.