$1,585,000
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0.45 Acres Lot
SOLD DATE : 09/11/2024
Key Details
Sold Price $1,585,000
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
MLS Listing ID 24002639
Sold Date 09/11/24
Originating Board Greater Antelope Valley Association of REALTORS®
Year Built 1973
Lot Size 0.450 Acres
Acres 0.45
Property Description
Great Quartz Hill Investment Property! Fully Rented 8 unit complex! Centrally located to shopping, bus stops, fast food, banks and more. This Building average rents are well under market. The average rent per unit is $1,376. The average rent should be between $1,700 per month. The monthly income includes $1,500 per year income from the laundry room. This 5% Cap Rate Chart is based upon the yearly net profit of $92,520 per year. This building is fully rented. There are Six 2+2 single story apartments and Two 2+2 townhomes. This building includes a brand new roof and new garage doors. Seven of the units have a single car garage with a new garage door. Unit A has a two car garage. Both unit A and unit G garages are attached. There is a laundry room on the premises and that income is included in the monthly gross income. There are also two garages that are not assigned and could possibly be converted to an ADU.
Location
State CA
County Los Angeles
Zoning LCR3*
Direction Take Ave. L to 40th St. West, complex is on South side of street just past 40th St. West
Exterior
Roof Type Composition
Building
Structure Type Stucco,Wood Siding
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25101 The Old Road Suite 240, Ranch, Ca, 91381, United States