BACK ON THE MARKET WITH OVER $50,000 PRICE DROP & IS PRICED TO SELL NOW! Well Maintained Highly Sought After Triplex in Culver City. The front two units each have 2 Bedrooms,1 Bathroom & Laundry Facilities. The back unit is not permitted & is a Studio w/1 Bath & addition room currently used as Kitchen. NEW STATE ADU RULES MIGHT MAKE IT EASIER TO PERMIT IT NOW OR TO EXPAND IT/ ADD AN ADDITIONAL UNIT. PLEASE CHECK WITH THE CITY TO CONFIRM! The Property is perfect for a Buyer that wants to live in one unit & rent out the others. If you lived in one unit, you may able to cover your monthly mortgage payment and live for free. This is almost impossible to find in LA. This would also work well for extended families or for someone looking for a good investment or 1031 Exchange. This property is in one of the best locations in LA & is centrally located to everything including Beaches, Freeways,Restaurants & Shops.
Proforma Rental Income for the front two units are $3,200 a month & the back studio is $1,600. Total Gross Proforma Rent is $8,000 a month or $96,000 a year. This means your CAP Rate/Return on Investment is almost 6% when the average property in this area gets a 3% or less return.
The Property has been well maintained & upgraded over the years.The front unit has new paint, some new windows, & switches. The middle unit has a newer bathroom, lights & floors. Other amenities include a Long Driveway which allows for lots of parking & a private backyard for entertaining.
Based on information from California Regional Multiple Listing Service, Inc. as of January 17th, 2020 at 6:46pm CST. 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 usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.