Leimert Park Duplex
A 50% vacant, 50% renovated Spanish style duplex on a peaceful, tree lined street minutes from USC, West Adams, Culver & more! Renovated in 2019 and boasts a current 4.90% cap rate & 6.47% pro forma cap! Ideal for owner users- occupy and obtain a lower interest rate. With potential to add TWO 800 square foot ADU’s, we project $580,000 of estimated profit and an ARV of $1,895,000.
List Price:
Cap Rate:
GRM:
Bldg. Size:
Unit Mix:
Highlights:
$995,000
4.90% (current)
6.47% (pro forma)
14.45 (current)
11.52 (pro forma)
2,453 sqft
1x 3b/2b + den
1x 3b/1b
50% renovated
50% vacant
ADU/ADU's opportunity
ARV of $1,895,00 with ADU's
Ideal for owner occupiers
Major upside
High cap rate
2018 roof
Large corner lot
Unmatched curb appeal
Private yards
Tree lined residential street
Minutes from USC
Reinforced foundation
In a "neighborhood of the year"
4 parking spaces
Stunning hardscape/landscape
Click to View Photos
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The Neighborhood
< 5-Minute Drive
South LA Cafe, Starbucks, Highly Likely Café, CAFE5, Earle's On Crenshaw
Chipotle Mexican Grill, Village Cafe & Pizza, Albertsons, Hot and Cool Cafe, Cinemark Baldwin Hills, Park to Playa Trailhead, Harold & Belle's,
Tumby’s Pizza
< 15-Minute Drive
The University of Southern California, Exposition Park, University Park, Kenneth Hahn State Recreation Area, Whole FoodsMarket, Target, Planet Fitness, Koreatown Plaza,
Pasta Sisters, Chick-fil-A, The Lab Gastropub, Amazon Fresh
< $15 Uber Ride
Crypto.com Arena, Los Angeles Convention Center, Microsoft Theater, JW Marriott Los Angeles L.A. LIVE, Arts District DTLA, Chinatown, Dodgers Stadium, Koreatown, The Wiltern, Regent Theater, The Moroccan Lounge, Clifton's Republic, Resident
Submit your offers now!
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50% vacant & 50% renovated!!! A dream come true for investors looking to immediately achieve market rent, as well as owner users.
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MAJOR OPPORUNITY TO ADD AN ADU/ADU’S (huge value add). See attached renderings of 2 ADU’s.
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Add two 800 SF ADU’s (estimated rent of $2,800 a piece) for ARV of $1,895,000. Projected $580,000 in profit. (Buyer to do due diligence.)
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Opportunity to buy out downstairs’ tenant as an owner user.
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4.90% current cap rate, plus significant upside in rents. UNHEARD OF pro forma cap rate of 6.47%!
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Incredibly low price tag of only $995,000! Unbeatable price per foot of $405.63, verse the recent comps average of $536.74!
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The property was given a trendy remodel in 2018/2019 and features countless upgrades including a new roof (2018), new paint, new landscaping/hardscaping, a new upstairs kitchen & bathroom, a new downstairs bathroom, privatized yards/patios, and more!
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The curb appeal here is unmatched by any property in the whole area. Total stand out!
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The renovated unit will be delivered vacant in June. Ideal opportunity to owner occupy, lock in a residential interest rate, and enjoy upscale accomodations while having tenants pay your mortgage.
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Value add opportunity!
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Extremely low maintenance, well-maintained property.
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Features reinforced foundation with anchor bolts and cripple wall & various plumbing & electrical updates.
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Located in Leimert Park, 2016’s “Neighborhood of the Year” on Curbed LA.
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Ultra-appealing corner lot.
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Dream 1031 exchange opportunity!
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Ideal location minutes from Downtown LA, Mid-City, Culver City, and West Adams!