8616 Whitworth Drive

    Los Angeles (City), CA 90035
    • $3,725,000
    • STATUS: Pending
    • ON SITE: 186 days
    • ID#: 18397654
    Pending
    UPDATED: 221 min ago
    $3,725,000
    • 0
      BEDS
    • 0.16
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 9,751
      SQFT
    • $382
      $/SQFT
    Type:
    Multi-Family
    Built:
    1964
    County:

    School Ratings & Info

    Description

    A well-maintained eight-unit rent-controlled apartment building located in the Pico/Robertson submarket of Los Angeles. Built in 1964, the property has six townhouse units and a total of approximately 12 parking spaces (3 of which are tandem). The property offers a great unit mix of all two-bedroom units and a three-bedroom unit. There is onsite laundry, but one can add value by potentially adding washer/dryers in the units as part of their remodel when a unit becomes vacant. Currently two of the units have been beautifully significantly renovated. Two other units delivered vacant. Additionally, there is approximately 30% upside in the rents. This is a great long term hold or value add opportunity for a hands-on buyer. Existing Loan w/ Chase can be assumed - UPB: ~$2,075,000 with BELOW-MARKET INTEREST RATE OF 4.29% FIXED thru 02-01-24

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2019-04-21T00:34:12.42. 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/88567444

    8616 Whitworth Drive Los Angeles (City), CA 90035

    • Price: $3,725,000
    • Status: Pending
    • Updated: 221 min ago
    • ID#: 18397654
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.16
    Acres
    9,751
    SQFT
    $382
    $/SQFT
    1964
    Built
    Neighborhood:
    C09 - Beverlywood Vicinity
    County:
    Los Angeles
    Area:
    C09 - Beverlywood Vicinity
    Property Description
    A well-maintained eight-unit rent-controlled apartment building located in the Pico/Robertson submarket of Los Angeles. Built in 1964, the property has six townhouse units and a total of approximately 12 parking spaces (3 of which are tandem). The property offers a great unit mix of all two-bedroom units and a three-bedroom unit. There is onsite laundry, but one can add value by potentially adding washer/dryers in the units as part of their remodel when a unit becomes vacant. Currently two of the units have been beautifully significantly renovated. Two other units delivered vacant. Additionally, there is approximately 30% upside in the rents. This is a great long term hold or value add opportunity for a hands-on buyer. Existing Loan w/ Chase can be assumed - UPB: ~$2,075,000 with BELOW-MARKET INTEREST RATE OF 4.29% FIXED thru 02-01-24
    Exterior Features

    Lot Size Units Square Feet Parking Features Other Parking YN Yes

    Interior Features

    Cooling See Remarks Cooling YN Yes Laundry Features See Remarks

    Property Features

    Gross Multiplier 14.40 Gross Operating Income 234441.00 Laundry YN Yes Net Operating Income 135916.00 Special Listing Conditions Standard Total Expenses 91544.00 Zoning Lar3

    Listing provided courtesy of Ardy Ishal of Brc Advisors- Bh


    Based on information from California Regional Multiple Listing Service, Inc. as of 2019-04-21T00:34:12.42. 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
    171 Saxony Road, Ste. 205
    Encinitas CA, 92024