3317 E 8th St - Apartments FOR SALE


Los Angeles, CA 90023- Boyle Heights
$899,000 USD
310-279-7592
3317 E 8th St, Los Angeles, CA for Sale
$899,000 USD
Apartments - FOR SALE
1/31
null | 6.64% Cap Rate

3317 E 8th St
Los Angeles, CA 90023
Boyle Heights


HIGHLIGHTS

  • 3 bedroom/1 bath SFR in front, Two, 1 bedroom/1 bath units in rear
  • Rear units are not under Los Angeles city Rent Stabilization Ordinance
  • Well maintained property with rents at or close to market rents
  • Pro Forma GRM at 11.3 with a cap rate of 6.6%
  • One unit can be delivered vacant for potential owner/user

OVERVIEW

Don't miss this remodeled, cash-flow generating triplex located just east of Downtown Los Angeles, in the vibrant heart of Boyle Heights. The property features a spacious 3-bedroom, 1-bath single-family house in the front, which has been fully renovated. The house includes engineered hardwood floors, updated appliances, remodeled bathroom and kitchen, central air and heat, and in-unit laundry. In the back is a two-story duplex, each 1-bedroom / 1-bath units. Both units are remodeled. Tenants pay for gas and electric, as well as ratio-utility billing for shared costs such as water and sewer -- increasing net income for the owner. In the rear of the duplex is a fenced in closed patio with shared laundry for the back tenants -- a versatile layout perfect for investors or potential owner-occupants. On-site parking included for all 3 units. Pro Forma GRM is 11.32 with a cap rate of 6.6%, The rear units are NOT subject to LA City Rent Stabilization Ordinance (not under LA rent control). Current rents are at or near market levels with recent 3rd party appraisal coming in over list price. One rear unit will be delivered vacant, ideal for an owner-user or immediate rental upside. This is a turn-key investment with strong in-place income and significant long-term upside potential in one of LA's most dynamic rental markets. With close proximity to Downtown LA, public transit, Mariachi Plaza and the 101/5/60/710 freeways, this property offers both convenience and consistent tenant demand. Do not disturb tenants -- they are unaware of sale. Contact listing agent for access to the vacant unit. Listing agents/broker does not make any representation or warranty, express or implied, as to the accuracy or completeness of the information contained herein. Buyer to conduct their own investigations and due diligence. Owners/principal are licensed RE agents/brokers in California. Buyers must cross-qualify with Arcstone Financial. Contact Timra Valentyne at timra@arcstoneinc.com or 323-284-6057 for details.

FOR SALE DETAILS

PRICE

$899,000 USD

PRICE/SF

$411 USD /SF

# OF UNITS

3

PRICE/UNIT

$299,667

CAP RATE

6.64%

% LEASED

66%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Boyle Heights Triplex

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1949

PARKING SPACES

-

LAND DETAILS

LAND ACRES

-

LAND SF

-

ZONING

-

APN/PARCEL ID

5190-013-016

ASK ABOUT THIS PROPERTY

Ken DennisTiao PropertiesMore Info
310-279-7592

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Ken DennisTiao PropertiesMore Info
310-279-7592

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.