Address
863 E Imperial Highway Los Angeles, CA
Price
$ 1,600,000
Property Attributes
  • MLS#21705704
  • TypeContingent
  • CountyLOS ANGELES
  • CityLos Angeles
  • AreaMetropolitan South
  • Zip90059
  • Style
  • Price$ 1,600,000
  • Bedrooms7
  • Full Bathrooms7
  • Half Bathrooms0
  • Lot Size5,663 SqFt
Listing Provided Courtesy Of:
Derrick Vartanian with Keller Williams Silicon Beach
Data Source:
CLAW
Property Description

We are pleased to present 863 E Imperial Highway - a seven (7) unit multifamily investment opportunity located in South Los Angeles and built in 1956. The three (3) story wood frame stucco building consists of five (5) Two Bedroom / One Bath units, one (1)One Bedroom / One Bath unit, and one (1) Five Bedroom / Two Bath unit. There are a total of seven (7) parking spaces: three (3) of which are covered spaces. Several units have recently been partially renovated with laminate flooring, new paint, and new plumbing fixtures. In addition to the extensive interior renovations, the property completed Soft Story Parking Retrofitting, had a brand new roof installed in 2017,completely updated electrical systems, upgraded security lighting, and installed a ADT Security System in each unit. Further, the Seller has started plans to convert the top unit into a 3 Bedroom / 2 Bath Unit. 863 E Imperial Highway has 6,046 SF of livable space situated on a 5,759 SF lot zoned LARD2. This offering is priced to sell at a 6.37%CAP and 10.01 GRM. This attractive investment will reward an intelligent investor with high returns while remaining in the city of Los Angeles. Due to historically high occupancy rates in this market and low estimated annual expenses, an investor can be confident in receiving full rental income and optimizing their investment.

Price History
3/16/2021 Listed $1,600,000

General Features

Carport Y/N Yes
Heating Wall Furnace
MLS Area C37 - Metropolitan South
Parking Features Attached Carport, Gated
Property Type Residential Income
Total Units 7
Zoning LARD2

Interior Features

Heating Y/N Yes

Exterior Features

Lot Dimensions 50x115
Lot Size Acres 0.13
Lot Size Area 5759
Lot Size Source Assessor
Lot Size Square Feet 5759
Lot Size Units Square Feet
Number of Buildings 1

Amenities

  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult 55+
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Master On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Zip Code Average in 90059

Price
AVG $650K
$1.6M
Visits
AVG 17
6
Year Built
AVG 1955
1956
Walkscore
AVG 60
58
Data Provided by Walkscore ® not using MLS data

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