1072 Leonard Ave presents an excellent opportunity to acquire a well-located six-unit multifamily property in the heart of East Los Angeles. The property features a desirable unit mix consisting of (1) Studio, (4) 1-bedroom/1-bath units, and (1) 2- bedroom/1-bath unit, currently collecting $10,196.73 in monthly rent. Situated on a large… Read More 7,007 square foot lot, the property comes with approved plans for a (2) 1-Bed/1-Bath ADUs, allowing an investor to start construction immediately. After construction, the property is projects a 8.18% Cap Rate (After factoring in Construction costs). Currently operating at a 6.47% cap rate and 9.64 GRM, the property provides stable in-place income with upside potential for an investor looking to grow rents over time. East Los Angeles is a quickly growing neighborhood in Los Angeles adjacent to Downtown Los Angeles. A vibrant and
culturally diverse neighborhood known for its rich history, tight-knit community, and eclectic mix of cuisines, East LA offers a dynamic blend of residential charm, thriving local businesses, and a vibrant arts scene. With a close proximity to the train line stop and walking distance to Hollenbeck Park, and restaurants, bars and nightlife. Read Less
Property listed by Lyon Stahl Investment Real Estate, Inc., Aaron Jacobson 310-729-1559
Listing Snapshot
Days Online
0
Last Updated
Property Type
MixedUse
Lot Size
0.16 Acres
Year Built
1930
MLS Number
SB26051757
Additional Details
Building
Built in 1930, 1 building, 2 stories, Entry level: 1, Entry location: Front
Community
Curbs, Suburban, Sidewalks, Urban
Expenses
Operating: $39,941
Garage
4 spaces
Income
Gross Income: $122,361, Gross ScheduledIncome: $122,361, Net Operating Income: $76,302
Based on information from California Regional Multiple Listing Service, Inc. as of and/or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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