About This Home
This 8-bedroom, 4-bathroom multi-family at 3249 E 4th in Los Angeles, CA is listed for $985,000 ($300 per sqft). Built in 1963, the home offers 3,288 sqft of living space on a 0.11 acres lot.
Key Features
- Built in 1963
- 0.11 acre lot
- 2 stories
- 3 parking spaces
Property Details
Amenities
Exceptional 4-UNIT BOYLE HEIGHTS INVESTMENT - $985,000 / APPROX. $299 PER SF and just $246,250 per existing unit! There is potential for 46% more gross rental income and 7.0% stabilized cap at the $985K asking price. Current rents totaling approximately $4,767.80 per month with upside to $8,800 per month.
That increases the gross scheduled rent ($57,214 annual to approximately $105,600 annual. An increase of roughly $48,386 annually. The biggest growth opportunity is in converting existing garage space into 2 ADU-conversions to bring in up to an additional $1,800 per month totalling $3,600 per month in additional income.
The property goes from $8,800/month in projected market rent to $12,400/month 4+2 adus stabilized annual rents: $148,800/year. You will have approximately a 10.15% cap rate at $985,000. The seller has completed substantial capital improvements during ownership, including a copper plumbing re-pipe approximately six years ago, upgraded electrical pan
el, exterior painting, roof maintenance, replacement of two tank-style water heaters and remodeled bathrooms in two units. The property has four separate electric meters and four separate gas meters. The major systems are set and ready to go. Overall, the property has been well maintained, reflecting pride of ownership, and offers significant rental upside potential.
Monthly Cost Estimate
$5,268/mo
20% down · 6.5% · 30 years
Estimates only. Actual payments may vary.
Location
3249 E 4th
Los Angeles, CA 90063
Property Details
Cooling
Questions & Answers
This 8-bedroom, 4-bathroom multi-family at 3249 E 4th is listed at $985,000 ($300/sqft). The estimated monthly payment is $5,268 based on 20% down, a 30-year loan at 6.5% interest, estimated insurance.
Key features include: Built in 1963, 0.11 acre lot, 2 stories, 3 parking spaces.
This property is listed by BRIAN NGOY and can be reached at 6267738181.
