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25120 Western AVE Harbor City, CA 90710
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Key Details
Sold Price $899,000
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
MLS Listing ID SB14157372
Year Built 1978
Tax Year 2013
Lot Size 7,535 Sqft
Property Description
MONSTER UPSIDE through stabilized and maximized rents on these 4 non-rent-controlled townhouse-style units with 5th "space" for storage over the garage. Long-time owner AND ORIGINAL BUILDER is finally selling making this the first time for this property on the market.
Rents for units and storage have not kept pace with the area. These non rent-control units can generate rents consistent with the $1,800-$1,850/unit rents in the area. 800 sq. ft. 5th unit that was formerly rented..."storage" unit could generate $750-$1,000/month!?!
Units are spacious and have front AND back doors, enhancing the home-like feel. Immediate upside in rent and no rent control. Garage parking, as well as open parking. Onsite laundry, separate gas and electric meters.
Strong visibility on a major South Bay thoroughfare in one of LA's densest rental markets. Tried and true South Bay rental market with an effective vacancy rate of basically zero....a submarket where "down time" between tenants is "as fast as you can repaint and recarpet the unit", as an owner.
Location
State CA
County Los Angeles
Area 124 - Harbor City
Zoning R3
Exterior
Parking Features Assigned
Garage Spaces 4.0
Garage Description 4.0
Pool None
Community Features Curbs
Utilities Available Sewer Available
Building
Lot Description Corner Lot
Story 2
Water Public
Others
Acceptable Financing Cash, Cash to Existing Loan
Listing Terms Cash, Cash to Existing Loan
Special Listing Condition Standard
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Bought with William Morris • Keller Williams Realty Irvine