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Key Details
Sold Price $775,000
Property Type Multi-Family
Sub Type Quadruplex
Listing Status Sold
Purchase Type For Sale
MLS Listing ID PW22041707
Sold Date 05/27/22
HOA Y/N No
Year Built 1908
Lot Size 5,418 Sqft
Property Description
Welcome to 515 E. 61st St., a 4-unit property in an up-and-coming neighborhood of Los Angeles. Situated in a rapidly-improving neighborhood, this property is ready to rent as-is, while still a great candidate for value-add investors. Despite a great current cap. rate of 6.9%, there is still tremendous upside in the rents. Offering a favorable unit mix of a duplex up front, each unit having 2 beds, 1 bath. In the rear, there are two separate, free-standing structures - with one home being a 1 bed, 1 bath and the second home being a studio. This large lot features tons of gated parking in the rear, while providing an opportunity to build one, if not two, ADUs. Whether you are an owner-user or a traditional investor, this property has unlimited potential.
Location
State CA
County Los Angeles
Area C37 - Metropolitan South
Zoning LAR2
Interior
Heating None
Cooling None
Flooring Tile
Fireplaces Type None
Fireplace No
Appliance Gas Cooktop, Gas Oven, Gas Water Heater, Range Hood
Laundry Inside
Exterior
Parking Features Asphalt, Driveway, Private, Shared Driveway
Fence Good Condition, Security, Stucco Wall, Wrought Iron
Pool None
Community Features Curbs, Street Lights, Sidewalks
Utilities Available Electricity Available, Electricity Connected, Natural Gas Available, Natural Gas Connected, Sewer Available, Sewer Connected
View Y/N No
View None
Roof Type Shingle
Accessibility Parking, Accessible Approach with Ramp
Total Parking Spaces 6
Private Pool No
Building
Lot Description Rectangular Lot
Story 2
Entry Level Two
Sewer Public Sewer
Water Public
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 6006026028
Acceptable Financing Submit
Listing Terms Submit
Financing VA
Special Listing Condition Standard
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Bought with Andrew McAdams • eXp Realty of California Inc
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Tracy Thrower Conyers
Broker Associate, JD | License ID: 01712960
Broker Associate, JD License ID: 01712960