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Listed by Benjamin Lin • 1000 Realty Corporation
$ 2,100,000
Est. payment /mo
Active
1034 South Herbert Los Angeles, CA 90023
5,616 SqFt
UPDATED:
Key Details
Property Type Single Family Home
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
Square Footage 5,616 sqft
Price per Sqft $373
MLS Listing ID AR-26026771
Year Built 1992
Lot Size 0.272 Acres
Property Sub-Type Apartment
Source California Regional Multiple Listing Service (CRMLS)
Property Description
7 Large Units in LA county with Huge Lot Built in 1992. Great actual income with 6.6% CAP rate. The rents are still well below market, giving the buyer tremendous potential to increase income further. Convenient location: about 5 miles to Monterey Park & Downtown LA, 7 miles to Alhambra and 8 miles to South Pasadena. Close to USC Medical Center, Cal State LA, Boyle Heights and employment hubs. Walking distance to shops, schools, and neighborhood dining. Centrally located near Arts District. Vibrant cultural community with strong rental demand. Minutes to major freeways (I-5, I-10, 710 & 60) . Easy commuter access. This is a value-add investor's dream: long-term tenants, below-market rents, and immediate to get cash flow and for growth & appreciation. Ample parking spaces, with a total of 16 parking spots. Due to the large lot size and abundant parking, there is potential to add ADUs. If feasible, the buyer's potential income could further increase, but the buyer must verify with the city. The property equipped with security cameras. The seller may carry.
Location
State CA
County Los Angeles
Interior
Laundry Common Area, Inside
Exterior
Pool None
Community Features Curbs, Gutters
Building
Lot Description 6-10 Units/Acre
Sewer Public Sewer
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