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645 W 97th Street
USD 2,250,000
Property ID: 23285563
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645 W 97th Street ,90044
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icon 6301 SqFt
icon Built in 2019
icon USD 357/SqFt
icon 12 Beds
icon 9 Full
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Location Street View
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Interior Details
Bedrooms
12
Bathrooms
9
Interior Size
4800
Construction Details
Property Type --
Property Condition --
Architectural Style --
New Construction --
Year Built 2019
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Detailed Introduction Of This Home
Modern spacious triplex newly built in 2019, centrally located with easy access to freeways, restaurants, shopping, and more. This unit is neither under state nor city rent control, offering an extremely unique opportunity to take advantage of rapidly rising rental costs in Los Angeles without being hamstrung by local laws that limit most units from raising rent to prevailing market rates. The front home is a completely independent, detached home with 4 beds, 3 baths, 1,700 square feet, and a two car garage. Building at the rear of the lot is more private, each unit also containing 4 beds, 3 baths, and 1,561 square feet. All units promise consistent cash flow (two units are guaranteed by Section 8) and all are designed with open living space floorplans, primary bedrooms, and in-unit laundry. Due to the units being brand new construction as of 2019, there are close to zero maintenance costs and the new construction building warranty guarentees the new owner against latent hidden repairs and/or costs. Hardscaped exterior driveways allow for ample parking, with additional yard space secured by a gate, which also adds extra security for the grounds. All units are separately metered for gas, electricity, and water and the lease requires each tenant to pay his or her own utilities, which further saves the owner monthly expenses. In addition to rental income that is not capped, there is significant potential for appreciation on this property with the upcoming nearby Olympic events, expanding public transportation system, and an influx of investment into the area. Priced at a cap rate of over 5% this deal is a no-brainer. Owner self manages the property but is moving out of state and will be utilizing sale proceeds to fund 1031 out of state purchase.
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Cissy Tang
TEL: (+1)626 9868**** icon
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Contact Development/Agent
icon
Cissy Tang
(+1)626 9868**** icon
Please enter your nationality
+87
Cannot be empty
Email address is invalid Email address not authenticated!
Cissy Tang
(+1)626 9868**** icon
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645 W 97th Street
USD 2,250,000 12 Beds
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