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$ 1,450,000
Est. payment | /mo
8 Beds
4 Baths
9,503 Sqft Lot
$ 1,450,000
Est. payment | /mo
8 Beds
4 Baths
9,503 Sqft Lot
Key Details
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Active
Purchase Type For Sale
Subdivision Bixby Knolls (Bk)
MLS Listing ID RS26207276
Bedrooms 8
Lot Size 9,503 Sqft
Property Sub-Type Res Income 2-4 Units
Property Description
Fully leased Bixby Knolls fourplex with approximately 16% rental upside and potential to add up to four detached ADUsa path to doubling the unit count. Situated on an approximately 9,498 SF lot, the property features four 2-bedroom, 1-bath units totaling approximately 3,256 SF, four detached garages, and seven surface parking spaces. All units were renovated in 2019 with mini-split heating and cooling and upgraded appliances. Current rents average approximately $2,457 per unit, with projected rents of $2,850 following light interior updates on turnover. Annual scheduled income totals approximately $127,718, including ancillary income, with projected income of $151,370 through rent growth and full garage and parking rentals. This supports a projected 7.27% cap rate at the $1,450,000 asking price, excluding any future ADU income. The rear garage footprint offers potential for up to four detached ADUs while retaining surface parking, subject to buyer verification and City approval. Separately metered gas and electricity, on-site laundry, and proximity to Atlantic Avenue dining, shopping, and the 405/710 freeways round out the offering.
Location
State CA
County Los Angeles
Zoning Assessor
Direction East San Antonio & Elm
Interior
Fireplace No
Exterior
View Y/N No
Building
Story 2
Level or Stories 2
Others
Senior Community No
Tax ID 7134017007
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Listed by Andrew McAllister, DRE#01946829 eXp Realty of Greater L.A
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