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1311 W 89th St Los Angeles, CA 90044
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Key Details
Sold Price $1,770,000
Property Type Multi-Family
Sub Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Square Footage 4,450 sqft
Price per Sqft $397
MLS Listing ID 24-450445
Bedrooms 13
Year Built 1963
Lot Size 6,163 Sqft
Property Description
We are pleased to present 1311 W 89th St, an 8-unit property located in the heart of Los Angeles. Operating at a 7.79% CAP and an 8.81 GRM on current rents, with potential upside to a 9.18% CAP and a 7.77 GRM on pro-forma rents, this building provides a buyer with the ability to achieve a high-cash flow. The property consists of two-story building constructed in 1963 with a strong unit mix of 5 two-bedroom units and 3 one-bedroom units, with one 2-bedroom unit delivered VACANT. The property also features three 1-car garages in the front with three tandem spaces, plus carport spaces, and 5 tandem spaces in the rear accessible by alley, offering a plentiful parking on-site! This asset is located in close proximity to the 110 freeway as well as nearby retailers such as Ralphs, Chase Bank, Smart & Final, Superior Grocers as well as a number of other tenant amenities and conveniences.
Location
State CA
County Los Angeles
Area Metropolitan Southwest
Zoning LCR320U*
Rooms
Other Rooms None
Interior
Heating None
Cooling None
Equipment None
Exterior
Parking Features Carport, Garage Is Attached
Garage Spaces 11.0
Building
Story 2
Others
Special Listing Condition Standard
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The information provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All properties are subject to prior sale or withdrawal. All information provided is deemed reliable but is not guaranteed accurate, and should be independently verified.
Bought with Kidder Mathews of California, Inc.