$900,000
$900,000
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6516 E Olympic BLVD East Los Angeles, CA 90022
2,677 SqFt
Key Details
Sold Price $900,000
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Square Footage 2,677 sqft
Price per Sqft $336
MLS Listing ID CV21181040
Sold Date 10/21/21
HOA Y/N No
Year Built 1949
Lot Size 4,896 Sqft
Acres 0.1124
Property Description
We are pleased to exclusively offer for sale this "Turn-Key" 5 unit multi-family investment located in the city of East Los Angeles (Located 1 block west of Montebello.) The property is being offered for purchase at a 5.26% CAP Rate based on current actual rents! The current owner has made a substantial amount of improvements to the property such as: Copper Plumbing throughout, Updated Interiors, New Vinyl Windows, New Exterior Paint, and New Garage Doors. Most units have interior laundry hookups and a private one-car garage. All rental units are separately metered for Electricity & Gas while the owner pays for Water & Trash. The unit mix consists of one oversized 1 Bedroom/1 Bath Unit being utilized as a 2 Bedroom unit, three 1 Bedroom/1 Bath Units, and 1 Studio apartment. All tenants have stayed current on monthly rental payments throughout COVID, and when the new owner feels it is appropriate, all rental units are due for a rental increase as rents have not been raised in the last 12 months. Prime location located just 1 block to the city of Montebello, within minutes to the 60 & 710 Fwys, Private and Public Schools within walking distance, and plenty of retail and dining options.
Location
State CA
County Los Angeles
Area Ela - East Los Angeles
Zoning LCR3YY
Rooms
Ensuite Laundry See Remarks
Interior
Laundry Location See Remarks
Heating Wall Furnace
Cooling Wall/Window Unit(s)
Fireplace No
Laundry See Remarks
Exterior
Garage Spaces 4.0
Garage Description 4.0
Pool None
Community Features Curbs, Gutter(s), Sidewalks
Total Parking Spaces 4
Private Pool No
Building
Lot Description 2-5 Units/Acre
Story 2
Entry Level Two
Sewer Public Sewer
Water Public
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 6351017006
Acceptable Financing Cash, Cash to New Loan
Listing Terms Cash, Cash to New Loan
Financing Cash to New Loan
Special Listing Condition Standard
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Bought with KRISTOPHER GERMAN • RE/MAX 2000 REALTY