$1,950,000
151 Mountainview Street, Los Angeles 90057
10
Beds
10
Baths
6,536
Square feet
6,366
Lot Size
10
# Of Units
Listing Agent
Armin Soleimani - Global Platinum Properties, Inc.Huge 450k Price Reduction! Value-Add 10-unit building with 4 fully renovated units with permits (100% occupied) in the historic Filipino Town priced at only $195k/door and $298/SF. Amazing Current Cap Rate of 6.4% and 11 GRM with an incredible 88% upside to 14% Cap Rate and 5.9 GRM on proforma. Plus, there are Fully Approved RTI plans to add 2 attached ADUs to improve the numbers to only 162k/unit, 9.4% Cap Rate, and 8 GRM on Current with upside to 17% Cap Rate and 4.9 GRM on Proforma after ADUs. All units are individually metered for Electricity and gas, and tenants pay for Trash. Rare 8 vacant single Car Garages for additional income and ADU potential. RTI plans to add 2 Attached ADUs in the garages will eliminate/reduce the soft-story scope of work and cost. Easy to rent unit mix consisting of 10 large (1 bed/1 bath) units. 4 units have been fully remodeled with permits and boast new modern cabinets, flooring, lighting, new bathrooms, and significant exterior improvements. This property is located in the heart of LA just minutes away from Echo Park, Silverlake, DTLA as well as many hip neighborhood attractions, restaurants, bars, and shops such as Brooklyn Bagel Bakery, Boba Guys - Rideback Ranch, HiFi Kitchen, and Laveta Coffee, popping up all around the area.
Facts & Features
| MLS® # | 24360841 |
|---|---|
| Price | $1,950,000 |
| Bedrooms | 10 |
| Bathrooms | 10.00 |
| Square Footage | 6,536 |
| Lot Size | 6,366 |
| Type | Residential Income |
| Status | Active |
| # Of Units | 10 |
Community Information
| Address | 151 Mountainview Street |
|---|---|
| Area | C42 - Downtown L.A. |
| City | Los Angeles |
| County | Los Angeles |
| Zip Code | 90057 |
Amenities
| Parking Spaces | 8 |
|---|---|
| Is Waterfront | No |
| Has Pool | No |
Interior
| Interior | Laminate |
|---|---|
| Appliances | Refrigerator |
| Has Basement | No |
| Fireplace | No |
| Stories | Two |
Additional Information
| Date Listed | February 21st, 2024 |
|---|---|
| Days on Market | 67 |
| Zoning | LAC2 |
| Foreclosure | No |
| Short Sale | No |
| RE / Bank Owned | No |
Listing Details
| Agent | Armin Soleimani |
|---|---|
| Office | Global Platinum Properties, Inc. |