Est. cap rate

3.4%

Assumed rent, all units

$3,560/mo

Units

2

Price per unit

$312,500

Est. annual NOI

$21,360

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

Duplex

Bedrooms

2

Building size

1,535 sqft

Lot size

8,902 sqft

Year built

1950

Stories

1

Garage spaces

2

Pool

None

Status

Active

Days on market

46

MLS #

248292416

About this property

OWNER-USER OPPORTUNITY - GREAT INCOME-PRODUCING DUPLEX WITH LA HOUSING APPROVED PLANS FOR 3RD UNIT! Two detached 2-bedroom, 1-bath residences with individual laundry areas situated on an approximately 8,899 SF lot. The property currently generates rental income from both existing residences. Approved plans are in place for an approximately 900 SF, 2-bedroom, 1.5-bath ADU with laundry at the rear of the property. An additional conceptual development scenario explores removal of the existing approximately 366 SF garage and construction of three detached residential units at the rear while retaining both existing residences, potentially resulting in 5 total residential units. The 3 conceptual rear units have been modeled at approximately 900 SF each with 2 bedrooms, 1.5 baths and laundry. Existing property features include separate gas and electric meters serving the two residences and one water meter. Buyer to independently verify permits, approved plans, square footage, zoning, unit configuration and all development possibilities with the appropriate governmental agencies. The ADDITIONAL 3 UNITS -unit rear development concept is not currently approved and is subject to feasibility review and all required governmental approvals. SEE ATTACHED SUPPLEMENTS FOR DETAILS. HOME HAS A SECURITY SYSTEM SO PLEASE DO NOT GO WITHOUT APPOINTMENT.

Location

2111 E 118th Street

Los Angeles, Los Angeles, CA, 90059