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    863 E Imperial Hwy

    Los Angeles, CA 90059
    • $1,600,000
    • STATUS: Active Under Contract
    • ON SITE: 27 days
    • ID#: 21-705704
    Under Contract
    UPDATED: 31 min ago
    $1,600,000
    • 16
      BEDS
    • 0.13
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 6,046
      SQFT
    • $265
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1956
    County:

    School Ratings & Info

    Description

    We are pleased to present 863 E Imperial Highway - a seven (7) unit multifamily investment opportunity located in South Los Angeles and built in 1956. The three (3) story wood frame stucco building consists of five (5) Two Bedroom / One Bath units, one (1)One Bedroom / One Bath unit, and one (1) Five Bedroom / Two Bath unit. There are a total of seven (7) parking spaces: three (3) of which are covered spaces. Several units have recently been partially renovated with laminate flooring, new paint, and new plumbing fixtures. In addition to the extensive interior renovations, the property completed Soft Story Parking Retrofitting, had a brand new roof installed in 2017,completely updated electrical systems, upgraded security lighting, and installed a ADT Security System in each unit. Further, the Seller has started plans to convert the top unit into a 3 Bedroom / 2 Bath Unit. 863 E Imperial Highway has 6,046 SF of livable space situated on a 5,759 SF lot zoned LARD2. This offering is priced to sell at a 6.37%CAP and 10.01 GRM. This attractive investment will reward an intelligent investor with high returns while remaining in the city of Los Angeles. Due to historically high occupancy rates in this market and low estimated annual expenses, an investor can be confident in receiving full rental income and optimizing their investment.

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    Based on information from the Combined LA/Westside Multiple Listing Service as of 2021-04-12T07:42:13.553. 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.
    www.corrieluxuryhomes.com/homes/115127929
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    863 E Imperial Hwy Los Angeles, CA 90059

    • Price: $1,600,000
    • Status: Active Under Contract
    • Updated: 31 min ago
    • ID#: 21-705704
    16
    Beds
    0
    Baths
    0
    ½ Baths
    0.13
    Acres
    6,046
    SQFT
    $265
    $/SQFT
    1956
    Built
    Neighborhood:
    Metropolitan South
    County:
    Los Angeles
    Area:
    Metropolitan South
    Property Description
    We are pleased to present 863 E Imperial Highway - a seven (7) unit multifamily investment opportunity located in South Los Angeles and built in 1956. The three (3) story wood frame stucco building consists of five (5) Two Bedroom / One Bath units, one (1)One Bedroom / One Bath unit, and one (1) Five Bedroom / Two Bath unit. There are a total of seven (7) parking spaces: three (3) of which are covered spaces. Several units have recently been partially renovated with laminate flooring, new paint, and new plumbing fixtures. In addition to the extensive interior renovations, the property completed Soft Story Parking Retrofitting, had a brand new roof installed in 2017,completely updated electrical systems, upgraded security lighting, and installed a ADT Security System in each unit. Further, the Seller has started plans to convert the top unit into a 3 Bedroom / 2 Bath Unit. 863 E Imperial Highway has 6,046 SF of livable space situated on a 5,759 SF lot zoned LARD2. This offering is priced to sell at a 6.37%CAP and 10.01 GRM. This attractive investment will reward an intelligent investor with high returns while remaining in the city of Los Angeles. Due to historically high occupancy rates in this market and low estimated annual expenses, an investor can be confident in receiving full rental income and optimizing their investment.
    Exterior Features

    Lot Size Area 5759 Other Structures None Parking Garage Carport AttachedGated Total Parking 7

    Interior Features

    Baths Total 8.00 Cooling Wall Unit(S) Equipment Alarm System Heating Wall

    Property Features

    Assessed Total Value 865944 Gross Income 159780 Gross Operating Income 154987 Like Units1 1 Like Units2 1 Like Units3 1 Like Units4 1 Like Units5 1 Like Units6 1 Net Operating Income 101856.00 Number Of Buildings 1 Number Of Units 7 Sale Type Standard Security Features Prewired For Alarm System Source Living Area Assessor Source Lot Size Area Assessor Source Lot Size Dimensions Vendor Enhanced Total Annual Expense 53130 Type Of Units 5/2/1Bedroom Year Built Source Assessor Zoning Lard2

    Listing provided courtesy of Derrick Vartanian DRE#01816119 of Keller Williams Silicon Beach.


    Based on information from the Combined LA/Westside Multiple Listing Service as of 2021-04-12T07:42:13.553. 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.
     
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