11900 Rochester Ave, Los Angeles, CA 90025
- $2,275,000
- 6
- BD
- 7
- BA
- 3,657
- SqFt
- List Price
- $2,275,000
- Price Change
- ▼ $175,000 1677153284
- MLS#
- 23-234319
- Year Built
- 1952
- Bedrooms
- 6
- Bathrooms
- 7
- Living Sq. Ft
- 3,657
- Lot Size
- 7,003
- Lot Location
- Corner Lot
- Days on Market
- 66
- Property Type
- Multifamily
- Style
- Bungalow
- Stories
- 2
Property Description
A+ locale 2 blocks South of Wilshire & only $325k/door or build the 2 ADUs and the price drops to $252k/door! Priced at nearly LAND VALUE - Compare to recently sold comps 1333 Brockton & 1721 Armacost and acquire this value add asset to your portfolio with over 70% upside in rents. Don't miss this extremely rare & unique 7-unit apartment "compound" comprised of 4 standalone buildings including a triplex with 2-1+1s and a studio unit, a duplex with a remodeled 1+den+1 and gigantic private patio (delivered vacant) and another studio unit upstairs, and 2 freestanding 1+1 bungalows! Seller is finalizing RTI plans for two (2) ADU's (~$ 4300/month add'l income) utilizing the existing 5 vacant garages thereby reducing the build out cost (~$50k/unit to finish)! PROFORMA without 2 ADUs is $154800 GOI, $105935 NOI, 4.32% CAP, or $206400 GOI, $155535 NOI, and approx 5.8% CAP with ADUs! Or, develop into an amazing condo/townhouse project on this 50'x140' [Q]R3-1 corner lot with rear alley access. Centrally located between Brentwood, Westwood, and Santa Monica in a high demand rental area, this exceptional property offers a plethora of possibilities and upside making this the perfect owner/user, developer, or 1031 exchange property. On-site laundry & NO soft story retrofit requirement. Please do not disturb tenants or walk the property.
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Additional Information
- Other Buildings
- None
- Kitchen Features
- Tile Counters, Quartz Counters
- Pool Description
- None
- Heat
- Floor Furnace, Wall Gas
- Cooling
- None
- Number of Cars in Garage
- Garage, Garage - 4+ Car, Unassigned
- Garage Spaces Total
- 5
- Water
- Public
Mortgage Calculator
Courtesy of , Eric Akutagawa - CA DRE#
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