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listing
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Residential IncomeFor Sale
$2,099,000
645 W 97th Street
Los Angeles, CA 90044
Listed by Amir Torkamani DRE#01928629 atorkamani@esquirereb.com Esquire Real Estate Brokerage, Inc.
MLS: California Regional MLS (CRMLS)
12Beds
9Baths
4,800Sq Ft
Est. Mortgage
$10,935/mo

NEWLY PRICED AT CAP RATE OF 6%! Modern spacious triplex newly built in 2019, centrally located with easy access to freeways, restaurants, shopping, and more. This unit is neither under state nor city rent control, offering an extremely unique opportunity to take advantage of rapidly rising rental costs in Los Angeles without being hamstrung by local laws that limit most units from raising rent to prevailing market rates. The front home is a completely independent, detached home with 4 beds, 3 baths, 1,700 square feet, and a two car garage. Building at the rear of the lot is more private, each unit also containing 4 beds, 3 baths, and 1,561 square feet. All units promise consistent cash flow (two units are guaranteed by Section 8) and all are designed with open living space floorplans, primary bedrooms, and in-unit laundry. Due to the units being brand new construction as of 2019, there are close to zero maintenance costs and the new construction building warranty guarantees the new owner against latent hidden repairs and/or costs. Hardscaped exterior driveways allow for ample parking, with additional yard space secured by a gate, which also adds extra security for the grounds. All units are separately metered for gas, electricity, and water and the lease requires each tenant to pay his or her own utilities, which further saves the owner monthly expenses. In addition to rental income that is not capped, there is significant potential for appreciation on this property with the upcoming nearby Olympic events, expanding public transportation system, and an influx of investment into the area. Priced at a cap rate of 6% this deal is a no-brainer. Owner self manages the property but is moving out of state and will be utilizing sale proceeds to fund 1031 out of state purchase.

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Information courtesy of Esquire Real Estate Brokerage, Inc. is subject to verification and is not guaranteed.
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