Los Angeles, CA 90011 1162 E 43rd Place
$1,395,000
17 more
Presented By: Richard Bell with Bell Realty Group; 714-309-3549
Beds • 12
Baths • 6
SQFT • 5,729
Garage • 4
Year Built • 1954
Home Details
Great cash flow property with huge upside too. 11.8% cash on cash return with current rents. 8.3% cap rate. Many upgrades over the years including, Newer roof on both buildings, Copper water pipes, Vinyl windows, new external stairs to top unit in the back building. Possible conversion of garages currently used for storage to ADU to make 7 or 8 units, check with city for allowances. Located in a strong rental area in South Central Area with a great unit mix of five 3 Bdrm and 1 Bath units. Walkable score of 83. Property is separate metered for Gas and Electric and consists of two buildings, a 4-plex up front and duplex along with a 4 car garage in the back. Front 4 units have been converted to 3 bedrooms but third bedroom can easily be used as a living room as well, Buyer to verify permits for all changes and improvements. Market rents shown are for Section 8 approved 2 bedroom units. Garages currently used for storage.
Presented By: Richard Bell with Bell Realty Group; 714-309-3549
Interior Features for 1162 E 43rd Place
Other Interior Features
Air Conditioning Y/NNo
Basement (Y/N)No
Common WallsOneCommonWall
Fireplace FeaturesNone
Fireplace Y/NNo
Heating Y/NYes
Laundry FeaturesNone
Total Stories2
Other Rooms
Entry Level1
General for 1162 E 43rd Place
Additional Parcels Y/NNo
Attached Garage No
Building Area UnitsSquareFeet
Cap Rate8.1
Carport Y/NNo
CityLos Angeles
Community FeaturesCurbs, StormDrains, StreetLights, Sidewalks
CoolingNone
CountyLos Angeles
Current FinancingConventional
DirectionsE/ South Central Ave. & N/ E. Vernon Ave.
DisclosuresRentControl, SellerWillPaySec1Termite
Electric Expense0.0
Electric On Property Y/NNo
Entry LocationFront
Fuel Expense0.0
Garage Spaces4.0
Garage Y/NYes
Gross Income160368.0
HOANo
HOA Fee$0.0
HeatingWallFurnace
Home Warranty Y/NNo
Insurance Expense6500.0
Land Lease Y/NNo
Lease Considered Y/NNo
Lease Renewal Y/NNo
LevelsTwo
Listing TermsCash, CashToNewLoan
Lot Size Square Feet6981.0
Lot Size UnitsSquareFeet
MLS Area699 - Not Defined
MaintenanceExpense3500.0
MobileHomeRemainsYNNo
Net Operating Income116267.0
New ConstructionNo
Number Of Units Total6
Number of Units Leased5
Operating Expense39290.0
Pool FeaturesNone
PossessionCloseOfEscrow
Property Attached Y/NYes
Property ConditionTermiteClearance
Property Sub Type AdditionalApartment
Property SubtypeApartment
Property TypeResidentialIncome
Rent Control Y/NYes
RoofFlat
Senior Community Y/NNo
SewerPublicSewer
Spa FeaturesNone
Special Listing ConditionsStandard
Standard StatusActiveUnderContract
StatusActiveUnderContract
Stories2
Tax Lot11
Tax Year2023
Taxes$17,438
Tenant PaysCableTv, Electricity, Gas
Total Actual Rent13666.0
Trash Expense0.0
UtilitiesElectricityConnected, NaturalGasConnected, SewerConnected, WaterConnected
Walk Score83
Water Sewer Expense7200.0
Year Built1954
Year Built SourceAssessor
ZoningLAC2
Exterior for 1162 E 43rd Place
Building Area Total5729.0
Crops Included Y/NNo
FencingChainLink, Grapestake
Horse Y/NNo
Irrigation Water Rights Y/NNo
Lot FeaturesSixToTenUnitsAcre
Lot Size Acres0.1603
Lot Size Area6981.0
Lot Size SourceAssessor
Number of Buildings2
Number of Separate Electric Meters6
Number of Separate Gas Meters6
Number of Separate Water Meters1
Open Parking Y/NNo
Parking FeaturesNone
Private PoolNo
SpaNo
Total Parking4.0
Water SourcePublic
WaterfrontY/NNo
Additional Details
Price History
Clayton Bond
Sales Associate
Price
$1,395,000
MLS#PW24235975
List Date
11/18/2024
Property Type
Multi-Family
Phone
(949) 290-7647
