11822 S Avalon Boulevard

    Los Angeles (City), CA 90061
    • $969,000
    • STATUS: Active Under Contract
    • ON SITE: 101 days
    • ID#: PW20029488
    Under Contract
    UPDATED: 72 min ago
    $969,000
    • 0
      BEDS
    • 0.25
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 4,527
      SQFT
    • $214
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1906
    County:
    Area:

    School Ratings & Info

    Description

    ***ATTENTION DEVELOPERS AND INVESTORS!!!*** This 12-unit rooming house is a great, low-maintenance investment opportunity with a CAP rate of 5.73%. There are 6 units on each level that share 2 bathrooms and 1 kitchen. The corner lot itself is exceptionally large, 10,729 sqft, in a southeast Los Angeles neighborhood close to Magic Johnson park. The property is conveniently located close to the 105 and 110 freeways making it less than 10 miles to LAX and downtown LA and only 7 miles from the new home of the LA Rams and Chargers. The nearest metro stop, the Avalon Station on the Green Line, is less than 2 blocks away, making it very easy for those needing public transportation. It is commercially zoned as LAC2 (or LAR4) and in the Transit Oriented Communities (TOC Tier 3) Incentive Program allowing for endless development possibilities with many incentives to be taken advantage of. Developers can start from scratch (up to 50 units), add additional units, or build another structure. A lot of value-add opportunities here! Plumbing has recently been updated with a copper/ pex hybrid system and all new ABS drain lines. Additionally, a new fence has been installed around the entire property.

    Monthly Payment Calculator



    Based on information from California Regional Multiple Listing Service, Inc. as of 2020-05-30T18:25:55.737. 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 or First Team Real Estate. Licensed in the State of California, USA.

    www.theashleycooperteam.com/homes/103321214

    11822 S Avalon Boulevard Los Angeles (City), CA 90061

    • Price: $969,000
    • Status: Active Under Contract
    • Updated: 72 min ago
    • ID#: PW20029488
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.25
    Acres
    4,527
    SQFT
    $214
    $/SQFT
    1906
    Built
    Neighborhood:
    WATT - Watts
    County:
    Los Angeles
    Area:
    WATT - Watts
    Property Description
    ***ATTENTION DEVELOPERS AND INVESTORS!!!*** This 12-unit rooming house is a great, low-maintenance investment opportunity with a CAP rate of 5.73%. There are 6 units on each level that share 2 bathrooms and 1 kitchen. The corner lot itself is exceptionally large, 10,729 sqft, in a southeast Los Angeles neighborhood close to Magic Johnson park. The property is conveniently located close to the 105 and 110 freeways making it less than 10 miles to LAX and downtown LA and only 7 miles from the new home of the LA Rams and Chargers. The nearest metro stop, the Avalon Station on the Green Line, is less than 2 blocks away, making it very easy for those needing public transportation. It is commercially zoned as LAC2 (or LAR4) and in the Transit Oriented Communities (TOC Tier 3) Incentive Program allowing for endless development possibilities with many incentives to be taken advantage of. Developers can start from scratch (up to 50 units), add additional units, or build another structure. A lot of value-add opportunities here! Plumbing has recently been updated with a copper/ pex hybrid system and all new ABS drain lines. Additionally, a new fence has been installed around the entire property.
    Exterior Features

    Carport Spaces 1.00 Garage Spaces 0.00 Lot Features Agricultural - Tree/OrchardCorner LotLot 10000-19999 SqftRectangular LotLevelYard Lot Size Source Assessor Lot Size Units Square Feet Parking Features Unpaved Parking Total 10.00 Parking YN Yes Pool Features None Pool Private YN No Property Attached YN No Roof Shingle

    Interior Features

    Average Studio Area Units Square Feet Average1 Bed Area Units Square Feet Average2 Bed Area Units Square Feet Average3 Bed Area Units Square Feet Common Walls No Common Walls Cooling None Cooling YN No Flooring LaminateTileWood Heating Wall Furnace Heating YN Yes Interior Features 2 Staircases Laundry Features Gas Dryer HookupWasher Hookup Levels Two

    Property Features

    Accessibility Features 2+ Access Exits Additional Parcels YN No Association Fee 0.00 Association YN No Building Area Units Square Feet Cap Rate 5.73 Community Features CurbsSidewalks Country Us Electric Expense 10989.00 Elevation Units Feet Fuel Expense 0.00 Gross Income 86820.00 Gross Operating Income 84215.00 Gross Scheduled Income 86820.00 Insurance Expense 3127.00 Land Lease YN No Laundry YN Yes Maintenance Expense 1445.00 Net Operating Income 55501.00 New Construction YN No New Taxes Expense 12112.00 Number Of Separate Electric Meters 1 Number Of Separate Gas Meters 1 Number Of Separate Water Meters 1 Number Of Units Leased 12 Operating Expense 28714.00 Other Expense 846.00 Other Expense Description Lahd Due Pest Control Expense 195.00 Professional Management Expense 0.00 Rent Control YN No Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Total Actual Rent 7235.00 Total Expenses 28714.00 Trash Expense 0.00 Vacancy Allowance 2605 Vacancy Allowance Rate 3.00 Water Sewer Expense 0.00 Water Source Public Year Built Source Public Records Zoning Lac2/Lar4

    Listing provided courtesy of Chris Thompson of Realty One Group Diamond


    Based on information from California Regional Multiple Listing Service, Inc. as of 2020-05-30T18:25:55.737. 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 or First Team Real Estate. Licensed in the State of California, USA.

     
    First Team Real Estate
    CA,