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$ 2,100,000
Est. payment /mo
Price Dropped by $110K
1034 S Herbert Los Angeles, CA 90023
8 Beds
7 Baths
0.27 Acres Lot
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Active
Purchase Type For Sale
MLS Listing ID AR26026771
Bedrooms 8
Lot Size 0.272 Acres
Property Sub-Type Res Income 2-4 Units
Property Description
7 Large Units in LA county with Huge Lot Built in 1992. Great actual income with 6.6% CAP rate. The rents are still well below market, giving the buyer tremendous potential to increase income further. Convenient location: about 5 miles to Monterey Park & Downtown LA, 7 miles to Alhambra and 8 miles to South Pasadena. Close to USC Medical Center, Cal State LA, Boyle Heights and employment hubs. Walking distance to shops, schools, and neighborhood dining. Centrally located near Arts District. Vibrant cultural community with strong rental demand. Minutes to major freeways (I-5, I-10, 710 & 60) . Easy commuter access. This is a value-add investors dream: long-term tenants, below-market rents, and immediate to get cash flow and for growth & appreciation. Ample parking spaces, with a total of 16 parking spots. Due to the large lot size and abundant parking, there is potential to add ADUs. If feasible, the buyers potential income could further increase, but the buyer must verify with the city. The property equipped with security cameras. The seller may carry.
Location
State CA
County Los Angeles
Zoning Public Rec
Direction West of 710 Freeway & North of 5 Freeway, Near USC Medical Center, Cal State LA
Interior
Fireplace No
Exterior
View Y/N No
Building
Story 2
Level or Stories 2
Others
Senior Community No
Tax ID 5239018003
Acceptable Financing Cash
Listing Terms Cash
Listed by Benjamin Lin, DRE#01383988 1000 Realty Corporation
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