We are delighted to introduce Lake Street, an Excellent Value Add Opportunity! Five units will be unoccupied at close, while immediate rent increases can be implemented for the remaining three units, creating the ideal scenario to achieve market rents. With a current Cap. Rate just under 6% and a Market Cap. Rate of over 8%, an astute investor will realize the potential to turn this property into a turn-key asset with strong cash-on-cash returns. The units offer spacious floorplans which provide the ideal foundation for updated and modern renovations. The current owners built the property which consists of four large three-bedroom, two-bath units and four large two-bedroom, two-bath units with eleven parking spaces in an enclosed gate. Other highlights include a laundry room, newer roof, and the potential to add an ADU for additional income. The building is not identified in the Los Angeles RSO and is excluded from the LADBS Soft-story retrofitting program.
MLS #
CRPW23204104
MLS Source
California Regional MLS
Buyer's Brokerage Compensation*
2.00
Laundry
Community Facility
Garage/Parking
Garage: 0 Car(s)
# Buildings | # Leased Units | # Total Units |
---|---|---|
1 | – | – |
1040 S Lake St is a Residential Income in Los Angeles, CA 90006. This – square foot property sits on a – Sq Ft Lot and features – bedrooms & – full bathrooms. It is currently priced at – and was built in 1988.
This address can also be written as 1040 S Lake St, Los Angeles, CA 90006.©2024 California Regional MLS. All rights reserved. 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. Information provided is for personal, non-commercial use by the viewer and may not be redistributed without explicit authorization from California Regional MLS.
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* The offer of compensation is made subject to the MLS rules where the listing is filed. Please contact your agent for any questions concerning this subject matter.
This listing information is up-to-date as of March 27, 2024. For the most current information, please contact Christopher Walker