1615 W 11th Street

    Los Angeles (City), CA 90015
    • $850,000
    • STATUS: Active
    • ON SITE: 39 days
    • ID#: CV18240375
    UPDATED: 40 min ago
    $850,000
    • 0
      BEDS
    • 0.09
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 3,227
      SQFT
    • $263
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1905
    County:

    School Ratings & Info

    Description

    Currently a lucrative rental, this investment property is located in a commercial zone and provides numerous opportunities. The property is ideally located next to a newly built elementary school and near the Staples Center, LA Live and the Convention Center. Its owner can choose to keep the units as long-term rentals, convert it to Airbnb units, or even develop it for a business downstairs and offices upstairs. The owner makes an additional $1,500 a year with a billboard contract.Featuring beautiful hardwood flooring, the property is currently designed as 6 permitted long-term rental units. Downstairs, there is a 1600-square-foot unit with 2 bedrooms, 1 bathroom, and kitchen. Upstairs, the units provide dorm-style living, with 5 separate permitted units sharing 2 large bathroom. Two units enjoy airy, glass paneled doors leading to balconies.

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2018-11-12T19:30:11.323. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. Licensed in the State of California, USA.
    www.fredsedgroup.com/homes/88163961

    1615 W 11th Street Los Angeles (City), CA 90015

    • Price: $850,000
    • Status: Active
    • Updated: 40 min ago
    • ID#: CV18240375
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.09
    Acres
    3,227
    SQFT
    $263
    $/SQFT
    1905
    Built
    Neighborhood:
    699 - Not Defined
    County:
    Los Angeles
    Area:
    699 - Not Defined
    Property Description
    Currently a lucrative rental, this investment property is located in a commercial zone and provides numerous opportunities. The property is ideally located next to a newly built elementary school and near the Staples Center, LA Live and the Convention Center. Its owner can choose to keep the units as long-term rentals, convert it to Airbnb units, or even develop it for a business downstairs and offices upstairs. The owner makes an additional $1,500 a year with a billboard contract.Featuring beautiful hardwood flooring, the property is currently designed as 6 permitted long-term rental units. Downstairs, there is a 1600-square-foot unit with 2 bedrooms, 1 bathroom, and kitchen. Upstairs, the units provide dorm-style living, with 5 separate permitted units sharing 2 large bathroom. Two units enjoy airy, glass paneled doors leading to balconies.
    Exterior Features

    Garage Spaces 0.00 Lot Features 0-1 Unit/Acre Lot Size Source Assessor Lot Size Units Square Feet Parking Total 0.00 Pool Features None Pool Private YN No Property Attached YN No

    Interior Features

    Average Studio Area Units Square Feet Average1 Bed Area Units Square Feet Average2 Bed Area Units Square Feet Average3 Bed Area Units Square Feet Common Walls No Common Walls Cooling None Cooling YN No Fireplace Features None Fireplace YN No Laundry Features None Levels Two

    Property Features

    Additional Parcels YN No Building Area Units Square Feet Community Features CurbsSidewalks Country Us Electric Expense 350.00 Elevation Units Feet Fuel Expense 0.00 Gross Income 50400.00 Gross Scheduled Income 50400.00 Insurance Expense 1000.00 Land Lease YN No Laundry YN No Net Operating Income 43805.00 New Construction YN No New Taxes Expense 3135.00 Number Of Separate Electric Meters 2 Number Of Separate Gas Meters 2 Number Of Separate Water Meters 1 Operating Expense 6595.00 Professional Management Expense 0.00 Rent Control YN Yes Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Total Expenses 4635.00 Trash Expense 50.00 Water Sewer Expense 100.00 Water Source Public Year Built Source Assessor Zoning Lac1

    Listing provided courtesy of Joel Balswick of Homequest Real Estate.


    Based on information from California Regional Multiple Listing Service, Inc. as of 2018-11-12T19:30:11.323. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. Licensed in the State of California, USA.
     
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