1719 Miramar ST Active

Los Angeles,CA 90026

$ 1150000

10 Beds

4 Baths

3540 SqFt


Key Details

Property Type Multi-Family

Listing Status Active

Purchase Type For Sale

Square Footage 3,540 sqft

Price per Sqft $324

MLS Listing ID 24453333

Bedrooms 10

HOA Y/N No

Year Built 1910

Lot Size 4,203 Sqft

Acres 0.0965

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 $7,446 per month ($89,352 annually) with $60,899 in net income, the property has a 5.24% cap rate and a 12.87 GRM. With a 21% 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 6.84% and improving the GRM to 10.65. Priced at $1,150,000, this property reflects approximately $325 per rentable square foot and $287,500 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

Rooms

Ensuite Laundry None

Interior

Laundry Location None

Heating Wall Furnace

Fireplace No

Laundry None

Exterior

Garage Driveway

Parking Type 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

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