Est. cap rate

3.6%

Assumed rent, all units

$6,930/mo

Units

3

Price per unit

$390,000

Est. annual NOI

$41,580

Expense assumption

50%

Estimates only, based on HUD Fair Market Rents (a conservative 40th percentile floor) and a standard 50% operating expense assumption. Not a guarantee of income or value. Ask Alex for a pro forma using comparable rent data.

Run your own numbers

Adjust the assumptions to see cash flow and cash on cash return.

Illustration only, using a 30 year loan and your assumptions above. Not a loan offer, financial advice, or a guarantee. Confirm financing and actual rents independently.

Property details

Type

Triplex

Bedrooms

5

Bathrooms

3

Building size

1,688 sqft

Lot size

7,499 sqft

Year built

1956

Stories

1

Garage spaces

0

Style

Bungalow

Cooling

Wall/Window Unit(s)

Pool

None

View

None

Status

Active

Days on market

8

MLS #

247672230

About this property

Available for the first time in nearly 40 years! 2221 Elsinore is a vacant triplex featuring two 2-bed/1-bath units in the front structure and a detached studio in the rear. Situated on a flat lot, the property offers an excellent opportunity to renovate the existing units and lease at market rent while exploring additional development potential. Seller also owns adjoining 2217 Elsinore and will consider selling the properties separately or together. Combined, the two contiguous RD2-1VL parcels total approximately 14,994 SF, offering compelling multifamily redevelopment potential, including possible additional density under California State Density Bonus Law/AB 1287. Buyer to independently investigate and verify zoning, density, affordable/replacement-unit requirements, ADU potential, incentives, waivers, and all development possibilities with the City of Los Angeles.

Location

2221 Elsinore

Los Angeles, Los Angeles, CA, 90026