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959 965 S Vancouver Avenue
USD 1,400,000
Property ID: SB23147469
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959 965 S Vancouver Avenue ,90022
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icon 11410 SqFt
icon Built in 1928
icon USD 123/SqFt
icon 0 Bed
icon 0 Full
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Location Street View
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Interior Details
Bedrooms
0
Bathrooms
0
Interior Size
3780
Construction Details
Property Type --
Property Condition --
Architectural Style --
New Construction --
Year Built 1928
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Detailed Introduction Of This Home
The subject property is a 7-unit apartment complex in East Los Angeles consisting of a duplex 959 & 961 S. Vancouver Avenue, and 5 units within 4 single story Spanish Style bungalows situated on a corner lot. The apartments are not subject to LA City RSO, and are under the LA County Rent Ordinance which allows rent increase up to a maximum of 8% per year. The units are currently due for a 3% increase which is reflected in the Proforma Income column. There is also one unit (#961) that the seller is in the process of evicting which will provide additional upside as this unit is at a below market rent. All of the apartments are below market rents with upside upon turnover. The buildings are situated around a courtyard with 3 double garages in the center which can be rented out for additional income, and there is surface parking area on the property for up to 5 vehicles. The 2 lots are approximately 11,410 SF combined, and are both zoned R4 which could provide future development potential (buyer to verify). The complex is located south of Whittier Blvd, just west of Atlantic Blvd in unincorporated L.A. County. All apartments are 1 bedroom 1 bath units and the tenants pay for electric and gas utilities. Landlord only pays for water / sewer as the trash service is provided through the county. Excellent upside in income on this very easy to manage property which is being sold by an out of area owner.
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Cissy Tang
TEL: (+1)626 9868**** icon
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Contact Development/Agent
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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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959 965 S Vancouver Avenue
USD 1,400,000 0 Beds
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