8018 Avalon Boulevard
Los Angeles, CA 90003
$75,000.00 (+6.98%)
Active Under Contract for $1,150,000
Beds: 5 Baths: 4 Structure Size: 1,664 sqft Lot Size: 4,002 sqft
| MLS | 24416211 |
| Year Built | 1934 |
| Property Type | |
| County | Los Angeles |
| Status | Active Under Contract |
| Active Under Contract | $1,150,000 |
| Structure Size | 1,664 sqft |
| Lot Size | 4,002 sqft |
| Beds | 5 |
| Baths | 4 |
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!
Listing information courtesy of: Edmar Costa, Engel & Volkers Beverly Hills 562-688-1252. *Based on information from the Association of REALTORS/Multiple Listing as of 11/25/2024 and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
Location
Contact a Local Realtor®
Veronica Newbern
REALTOR®
Direct: 626.469.9284
Email: Email Me
DRE: 02093874
DRE #01873088
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