151 S Mountainview AVE new Save Request In-Person Tour Request Virtual Tour
Los Angeles,CA 90057
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 6,536 sqft
Price per Sqft $328
MLS Listing ID 25612297
Bedrooms 10
Year Built 1954
Lot Size 6,385 Sqft
Property Description
Huge Price Reduction! 10-unit building with 6 fully renovated units (2 vacant) Cash flowing at an amazing 7.7% Cap Rate from day 1 with upside to 10.4% Cap on Proforma. Fully Approved RTI plans to add 2 Attached ADUs to achieve a remarkable 9.5% Current Cap Rate, 12.2% Proforma Cap Rate, and only 202k/door after taking into account all constructions costs (~276k assuming $200/SF). All units are individually metered for Electricity and gas, and tenants pay for Trash. Rare 8 vacant single Car Garages for additional income and ADU potential. RTI plans to add 2 Attached ADUs in the garages will eliminate/reduce the soft-story scope of work and cost. Easy to rent unit mix consisting of 10 large (1 bed/1 bath) units. 6 units have been fully remodeled and boast new modern cabinets, flooring, lighting, new bathrooms, and significant exterior improvements. This property is located in the trendy & historic Filipino Town just minutes away from Echo Park, Silverlake, DTLA as well as many hip neighborhood attractions, restaurants, bars, and shops such as Brooklyn Bagel Bakery, Boba Guys - Rideback Ranch, HiFi Kitchen, and Laveta Coffee, popping up all around the area.
Location
State CA
County Los Angeles
Area C42 - Downtown L.A.
Zoning LAC2
Interior
Flooring Laminate
Building
Story 2
New Construction No
Others
Special Listing Condition Standard