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Key Details
Sold Price $1,100,000
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Square Footage 2,390 sqft
Price per Sqft $460
MLS Listing ID 24373793
Bedrooms 5
Year Built 1936
Lot Size 6,952 Sqft
Property Description
Location, location, location. This is a major value add or owner occupy opportunity in this Spanish style duplex, two separate units w no common wall and its own private yard in the historical View Park neighborhood. Whether owner occupied, short term or long terms hold investors this incredible value opportunity is right here. this is a dream scenario for owner occupiers. Obtain a lower rate via residential financing, live in a gorgeous home, & have the other tenant contribute to the mortgage: the most economical way to live in LA! Plus, with potential to add an ADU. For owner users to enhance their investment, the owner, their parents, or children plan to reside in the larger downstairs unit for a two-year period, they can take possession of the unit. This can be accomplished by providing the tenant with a 60-day notice & paying a relocation fee of $18,971.00. Once the two-year residency requirement is met, the owner has the option to release the unit at the market rent to a third party, which would result in an increase in overall value & also have an opportunity to update units and maximize return value on rent. If you are an investor looking for a strong return & major appreciation potential, this property checks that box as well surrounded by multimillion dollar homes with a new list 5 doors down for 2m showing what can be done in premier neighborhood. The units have maintained all of its Spanish character. They boast spacious floor plans, plentiful windows letting in ample natural lighting, hardwood flooring, original arches, breakfast nooks, service area with their own washer and dryer hook ups and access to their own private backyards. A new roof and new sewer line was put in a year ago. Between the ideal central location and the unbeatable curb appeal, this property is your chance to own a stable asset in LA that we predict will increase in value year after year.
Location
State CA
County Los Angeles
Area Phht - Park Hills Heights
Zoning LCR1*
Interior
Heating Fireplace(s), Wood, Wall Furnace
Cooling None
Flooring Laminate, Wood
Fireplaces Type Gas, Living Room, Wood Burning
Laundry Inside
Exterior
Parking Features Concrete, Covered, Door-Multi, Driveway, Garage
Garage Spaces 2.0
Garage Description 2.0
Pool None
Utilities Available Overhead Utilities
View Y/N No
View None
Building
Lot Description Back Yard, Front Yard, Lawn, Rectangular Lot, Yard
Foundation Raised
Sewer Other
Water Public
New Construction No
Schools
School District Los Angeles Unified
Others
Acceptable Financing Cash, FHA, Freddie Mac
Listing Terms Cash, FHA, Freddie Mac
Special Listing Condition Standard
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Bought with Tanee McCall • Compass