25423 Frampton Avenue

    Harbor City, CA 90710
    • $1,625,000
    • STATUS: Active Under Contract
    • ON SITE: 27 days
    • ID#: SB18252616
    Under Contract
    UPDATED: 51 min ago
    $1,625,000
    • 0
      BEDS
    • 0.17
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 5,669
      SQFT
    • $287
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1983
    County:

    School Ratings & Info

    Description

    We are proud to present 25423 Frampton Ave in Harbor City, California. This NON-RENT CONTROL asset is a 5,669 SF eight-unit apartment complex situated on a 7,501 SF lot. Conveniently located less than a mile from PCH, the 110 Freeway, Kaiser Permanente, and less than two miles from major retailers such as Costco, Whole Foods, Rite, Aide, and many others.The unit mix is comprised of two 2-bedrooms/1-bathrooms units, five 1-bedroom/1-bath units, and one studio. The property has gated parking with remote controlled entry allowing tenants access to three carport spaces and 5 parking spaces. Onsite amenities include a laundry room, landscaped common areas, storage cabinets, and harbor views. The structure was built in 1983, and has a hip shaped composition shingle roof. The annualized gross scheduled income is more than $111,000 and offers potential buyers nearly 20% in rental upside! At $286 PSF this investment opportunity will not last long!

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2018-11-14T16:36:18.277. 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/88628882

    25423 Frampton Avenue Harbor City, CA 90710

    • Price: $1,625,000
    • Status: Active Under Contract
    • Updated: 51 min ago
    • ID#: SB18252616
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.17
    Acres
    5,669
    SQFT
    $287
    $/SQFT
    1983
    Built
    Neighborhood:
    124 - Harbor City
    County:
    Los Angeles
    Area:
    124 - Harbor City
    Property Description
    We are proud to present 25423 Frampton Ave in Harbor City, California. This NON-RENT CONTROL asset is a 5,669 SF eight-unit apartment complex situated on a 7,501 SF lot. Conveniently located less than a mile from PCH, the 110 Freeway, Kaiser Permanente, and less than two miles from major retailers such as Costco, Whole Foods, Rite, Aide, and many others.The unit mix is comprised of two 2-bedrooms/1-bathrooms units, five 1-bedroom/1-bath units, and one studio. The property has gated parking with remote controlled entry allowing tenants access to three carport spaces and 5 parking spaces. Onsite amenities include a laundry room, landscaped common areas, storage cabinets, and harbor views. The structure was built in 1983, and has a hip shaped composition shingle roof. The annualized gross scheduled income is more than $111,000 and offers potential buyers nearly 20% in rental upside! At $286 PSF this investment opportunity will not last long!
    Exterior Features

    Carport Spaces 3.00 Garage Spaces 0.00 Lot Features 0-1 Unit/AcreCorner LotLandscapedLawn Lot Size Dimensions 150' X 50' Lot Size Source Assessor Lot Size Units Square Feet Parking Features Built-In StorageCarport AttachedGarage Door OpenerGated Parking Total 8.00 Parking YN Yes Pool Features None Pool Private YN No Property Attached YN Yes

    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 1 Common Wall Laundry Features Community Levels One

    Property Features

    Additional Parcels YN No Association Fee 0.00 Association YN No Building Area Units Square Feet Cap Rate 4.66 Community Features SidewalksUrban Country Us Electric Expense 2000.00 Elevation Units Feet Fuel Expense 0.00 Garage Income 0.00 Garage Rental Rate 0.00 Gardener Expense 720.00 Gross Income 1113000.00 Gross Multiplier 14.60 Gross Operating Income 106848.00 Gross Scheduled Income 111300.00 Insurance Expense 1984.00 Land Lease YN No Laundry Income 1200.00 Laundry YN Yes Lot Dimensions Source Public Records Maintenance Percent 3.00 Net Operating Income 75692.00 New Construction YN No New Taxes Expense 20313.00 Number Of Separate Electric Meters 9 Number Of Separate Gas Meters 9 Number Of Separate Water Meters 1 Number Of Units Leased 8 Operating Expense 31156.00 Professional Management Expense 0.00 Rent Control YN No Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Tenant Pays ElectricityGas Total Actual Rent 11375.00 Total Expenses 31156.00 Trash Expense 800.00 Vacancy Allowance Rate 4.00 Water Sewer Expense 2000.00 Water Source Other Zoning Lard2

    Listing provided courtesy of Austin Longwell of Lyon Stahl Investment Real Estate, Inc. and John Stiegler II of .


    Based on information from California Regional Multiple Listing Service, Inc. as of 2018-11-14T16:36:18.277. 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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    4010 Barranca Pkwy Suite 100
    Irvine CA, 92604