Los Angeles, CA 90026,1719 Miramar ST
Los Angeles, CA 90026,1719 Miramar ST
Los Angeles, CA 90026,1719 Miramar ST
24
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$1,150,000
Est. payment /mo
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4 BD
4 BA
3,540 SqFt
Active

1719 Miramar ST Los Angeles, CA 90026

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Ed Kaminsky

Ed Kaminsky

The Kaminsky Real Estate Group

+1(310) 307-2224

UPDATED:

12/05/2024 05:31 AM

Key Details

Property Type Multi-Family

Listing Status Active

Purchase Type For Sale

Square Footage 3,540 sqft

Price per Sqft $324

MLS Listing ID 24453333

Bedrooms 4

HOA Y/N No

Year Built 1910

Lot Size 4,203 Sqft

Property Description

1719 Miramar Street, located in the heart of Los Angeles, presents a clean investment opportunity with significant rental upside. This 4-unit building features a total of 3,540 sq. ft. of rentable space on a 4,200 sq. ft. lot, with a mix of large units two currently operating as 2-bedroom, 1-bathroom units, and two as 3-bedroom, 1-bathroom units. Tax records show all units are 1 bedroom / 1 bathroom. Originally built in 1910, the property has been well-maintained with recent termite tenting, a new roof, copper plumbing, and an ABS main line. Each unit is individually metered, and the property offers ample parking at the rear. Currently generating $7,446 per month ($89,352 annually) with $60,899 in net income, the property has a 5.24% cap rate and a 12.87 GRM. With a 21% rental upside, the potential gross income could rise to $9,000 per month ($108,000 annually) with a net income of $79,322, boosting the cap rate to 6.84% and improving the GRM to 10.65. Priced at $1,150,000, this property reflects approximately $325 per rentable square foot and $287,500 per door, making it an attractive proposition for investors looking for immediate cash flow with significant upside potential in an up and coming Los Angeles location.

Location

State CA

County Los Angeles

Area C42 - Downtown L.A.

Zoning LAR3

Interior

Heating Wall Furnace

Fireplace No

Laundry None

Exterior

Parking Features Driveway

Building

Story 2

Entry Level Two

Level or Stories Two

New Construction No

Others

Senior Community No

Tax ID 5153002024

Special Listing Condition Standard


California Regional MLS (CRMLS)
Listed by John McCann • Lyon Stahl Investment Real Estate, Inc.

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Ed Kaminsky

President & CEO | DRE# 00958114

+1(310) 307-2224

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