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$ 2,100,000
Est. payment /mo
Price Dropped by $110K
1034 S Herbert Los Angeles, CA 90023
0.27 Acres Lot
UPDATED:
Key Details
Property Type Apartment
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
MLS Listing ID AR26026771
HOA Y/N No
Year Built 1992
Lot Size 0.272 Acres
Property Sub-Type Apartment
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 investor's 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 buyer's 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
Area 699 - Not Defined
Interior
Fireplace No
Laundry Common Area, Inside
Exterior
Carport Spaces 8
Pool None
Community Features Curbs, Gutter(s)
Total Parking Spaces 16
Private Pool No
Building
Lot Description 6-10 Units/Acre
Story 2
Sewer Public Sewer
Water Public
New Construction No
Others
Senior Community No
Tax ID 5239018003
Energy Description 324.0
Acceptable Financing Cash, Cash to New Loan
Listing Terms Cash, Cash to New Loan
Special Listing Condition Standard
Listed by Benjamin Lin 1000 Realty Corporation 626-233-3678, DRE #01383988
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