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Sherry Ramos

sherry.ramos@engelvoelkers.com +1(818) 429-2793

$ 1,075,000

Est. payment -/mo

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Active

8018 Avalon BLVD Los Angeles, CA 90003

5 Beds

4 Baths

1,664 SqFt

UPDATED:

10/31/2024 02:56 PM

Key Details

Property Type Multi-Family

Listing Status Active

Purchase Type For Sale

Square Footage 1,664 sqft

Price per Sqft $646

MLS Listing ID 24416211

Bedrooms 5

Construction Status Updated/Remodeled

HOA Y/N No

Year Built 1934

Lot Size 4,003 Sqft

Property Description

Back on the Market Buyer failed to performance...Exceptional Opportunity: Own 4 Units (Currently 1 Vacant) in Los Angeles! This property is prime for Section 8 rentals with estimated rental income of approximately $10,273 per payment standard, yielding an impressive CAP rate of 8% - a rarity in today's market! Property features brand new roofs, new windows, stylish new kitchen cabinets, and elegant quartz countertops. The front two units offer high ceilings creating a loft-like atmosphere, and built-in laundry hook ups, while the back units benefit from a convenient community laundry space. All units come equipped with new tankless water heaters, stoves, refrigerators, microwaves and mini-split AC/heating systems. Upgrades include new electrical systems and 400 amp panels, and 100% new pex plumbing and state of the art fire sprinkler system (insurance carriers love). All units individually metered for gas and electric. With all units currently vacant great opportunity for buyer to vet their own tenants and have a passive rent generating machine with no headaches or maintenance calls. The seller is also pursuing Section 8 rental approval, allowing for the potential of selling with tenants already in place. At this time Three units has been placed under contract with section 8 and is paying $2,407. Don't miss this exceptional opportunity to choose your own tenants in a highly sought-after location!

Location

State CA

County Los Angeles

Area C37 - Metropolitan South

Zoning LAC2

Interior

Interior Features Ceiling Fan(s), High Ceilings

Fireplaces Type None

Fireplace No

Appliance Electric Cooktop, Refrigerator, Dryer, Washer

Exterior

Garage Driveway

Pool None

View Y/N No

View None

Porch None

Parking Type Driveway

Total Parking Spaces 4

Private Pool No

Building

Lot Description Back Yard, Landscaped

Faces West

Entry Level One

Foundation Raised, Slab

Sewer Other

Water Public

Architectural Style Spanish

Level or Stories One

New Construction No

Construction Status Updated/Remodeled

Schools

School District Los Angeles Unified

Others

Senior Community No

Tax ID 6029008006

Security Features Carbon Monoxide Detector(s),Fire Sprinkler System,Smoke Detector(s),Window Bars

Acceptable Financing Cash, Conventional, FHA

Listing Terms Cash, Conventional, FHA

Financing Cash,Conventional,FHA

Special Listing Condition Standard

Listed by Edmar Costa • Engel & Volkers Beverly Hills

Sherry Ramos

Advisor | License ID: 01271018

+1(818) 429-2793

Sherry Ramos

8018 Avalon BLVD Los Angeles, CA 90003

Key Details

Location

Interior

Exterior

Building

Schools

Others

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8018 Avalon BLVD