Property Detail

Description

$362,340 GROSS SCHEDULED INCOME | 6.35% CAP | 13 UNITS ON TWO CONTIGUOUS PARCELS. This rare offering includes two contiguous parcels totaling approximately 40,425 square feet and a combined 13 units, six on one parcel and seven on the other. Each unit is a single-level, cottage-style residence, and the property includes multiple garages and ample surface parking. The electrical at 4900 Live Oak has been updated with new mains and sub panels. The property produces $362,340 in gross scheduled income against $116,794 in operating expenses, for a net operating income of $238,299. Additional potential includes accessory dwelling units or a complete redevelopment, buyer to verify all options with the city. Located in an area already experiencing new construction, including a recently completed apartment building nearby. Steps from the Atlantic Avenue dining and retail corridor, with Plaza Mexico in Lynwood roughly 10 minutes away and the Watts Towers and Augustus F. Hawkins Natural Park about 15 minutes out.