1736 Clinton Street

    Los Angeles (City), CA 90026
    • $1,749,000
    • STATUS: Active
    • ON SITE: 113 days
    • ID#: 18369474
    $1,749,000
    • 0
      BEDS
    • 0.19
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 3,183
      SQFT
    • $549
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1912
    County:

    School Ratings & Info

    Description

    I know, I know.... seems like a lot of money for just a duplex, but hear me out. Factually, when you see all the info below, this could possibly be the best investment deal in Echo Park right now! What you are buying is: a) two beautifully and thoroughly renovated units, each of which are 1600 sq ft two story 3 bed 3 bath units with parking and views. But additionally, you are buying b) the plans for two brand new construction 3 bed 2.5 bath 1450 sq ft units in the rear of the property. As the new owner you will have to take the permit process to completion, but it is already well in progress. All four units will fetch $4500 each. We estimate it will cost, between getting through the permit process and then building the units, a total of about $500K. This means that, for under $2.4 million you have four units that are grossing a total of $18,000/mo. If you care to hold it, you have a property that will net approx $5300/mo in cash flow, or close to 11% cash on cash return.

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2018-11-17T00:33:29.53. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. Licensed in the State of California, USA.
    www.mainstreetgroup.com/homes/86008999

    1736 Clinton Street Los Angeles (City), CA 90026

    • Price: $1,749,000
    • Status: Active
    • ID#: 18369474
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.19
    Acres
    3,183
    SQFT
    $549
    $/SQFT
    1912
    Built
    Neighborhood:
    671 - Silver Lake
    County:
    Los Angeles
    Area:
    671 - Silver Lake
    Property Description
    I know, I know.... seems like a lot of money for just a duplex, but hear me out. Factually, when you see all the info below, this could possibly be the best investment deal in Echo Park right now! What you are buying is: a) two beautifully and thoroughly renovated units, each of which are 1600 sq ft two story 3 bed 3 bath units with parking and views. But additionally, you are buying b) the plans for two brand new construction 3 bed 2.5 bath 1450 sq ft units in the rear of the property. As the new owner you will have to take the permit process to completion, but it is already well in progress. All four units will fetch $4500 each. We estimate it will cost, between getting through the permit process and then building the units, a total of about $500K. This means that, for under $2.4 million you have four units that are grossing a total of $18,000/mo. If you care to hold it, you have a property that will net approx $5300/mo in cash flow, or close to 11% cash on cash return.
    Exterior Features

    Lot Features Sprinklers None Lot Size Units Square Feet Parking Features Driveway Parking YN Yes

    Interior Features

    Cooling Central Cooling YN Yes Laundry Features See Remarks

    Property Features

    Gross Multiplier 11.43 Gross Operating Income 108000.00 Improvements Amount 318311 Land Value 506114 Laundry YN Yes Net Operating Income 103000.00 Special Listing Conditions Standard Total Expenses 5000.00 Zoning Lard2

    Listing provided courtesy of Ken Shapiro of Silverwood Properties.


    Based on information from California Regional Multiple Listing Service, Inc. as of 2018-11-17T00:33:29.53. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. Licensed in the State of California, USA.
     
    Mainstreet Realtors®
    8577 Haven Ave, Suite 100
    Rancho Cucamonga CA, 91730