4502 Wesley Avenue

    Los Angeles (City), CA 90037
    • $1,485,000
    • STATUS: Active
    • ON SITE: 73 days
    • ID#: 19454926
    UPDATED: 131 min ago
    $1,485,000
    • 0
      BEDS
    • 0.15
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 8,732
      SQFT
    • $170
      $/SQFT
    Type:
    Multi-Family
    Built:
    1912
    County:

    School Ratings & Info

    Description

    Built in 1912, this 8-unit property is located on a 6,523 SF lot in Vermont Square. The two-story building features eight one/bedroom-one/bathroom units, all with spacious floor plans.The spacious units all stand at 865 square feet, including individual water heaters. Along with low utility payments, the value-add property currently has a 35% rental upside through renovations. Separately metered for gas and electric, the property is being offered at a 4.17% CAP rate on current income, with a market CAP rate reaching 7.56%.Located one quarter mile from the University of Southern California (USC), 4502 Wesley Avenue is bound between Martin Luther king Jr. Boulevard and West Slauson Avenue. Located next to the Harbor Freeway, the property allows for a quick commute to LA Live. Within close proximity to the metro expo line, the dual lot property holds frontage on two major street, Westley Avenue and South Hoover Street, providing a substantial walk score of 82.

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2019-06-25T00:36:54.86. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. Licensed in the State of California, USA.
    www.hellerthehomeseller.com/homes/93672840

    4502 Wesley Avenue Los Angeles (City), CA 90037

    • Price: $1,485,000
    • Status: Active
    • Updated: 131 min ago
    • ID#: 19454926
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.15
    Acres
    8,732
    SQFT
    $170
    $/SQFT
    1912
    Built
    Neighborhood:
    C34 - Los Angeles Southwest
    County:
    Los Angeles
    Area:
    C34 - Los Angeles Southwest
    Property Description
    Built in 1912, this 8-unit property is located on a 6,523 SF lot in Vermont Square. The two-story building features eight one/bedroom-one/bathroom units, all with spacious floor plans.The spacious units all stand at 865 square feet, including individual water heaters. Along with low utility payments, the value-add property currently has a 35% rental upside through renovations. Separately metered for gas and electric, the property is being offered at a 4.17% CAP rate on current income, with a market CAP rate reaching 7.56%.Located one quarter mile from the University of Southern California (USC), 4502 Wesley Avenue is bound between Martin Luther king Jr. Boulevard and West Slauson Avenue. Located next to the Harbor Freeway, the property allows for a quick commute to LA Live. Within close proximity to the metro expo line, the dual lot property holds frontage on two major street, Westley Avenue and South Hoover Street, providing a substantial walk score of 82.
    Exterior Features

    Lot Size Source Assessor Lot Size Units Square Feet

    Interior Features

    Cooling See Remarks Cooling YN Yes Laundry Features See Remarks

    Property Features

    Cap Rate 4.17 Gross Multiplier 14.08 Gross Operating Income 103353.00 Laundry YN Yes Net Operating Income 61902.00 Special Listing Conditions Standard Taxes Percent 1.19 Total Expenses 41450.00 Zoning Lar3

    Listing provided courtesy of Neema Ahadian of Marcus & Millichap


    Based on information from California Regional Multiple Listing Service, Inc. as of 2019-06-25T00:36:54.86. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. Licensed in the State of California, USA.
     
    Heller The Home Seller | Keller Williams Realty
    171 Saxony Road, Ste. 205
    Encinitas CA, 92024