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Buy a multi-family propertyat 6066 Springvale Drive Unit 3, Highland Park, CA 90042

$1,750,000

$0/mo

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Multifamily

9,286 Sq. Ft. lot

0 Bathrooms

280 Days on market

AR23133437 MLS ID

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About 6066 Springvale Drive Unit 3 multi-family property

Do not miss out! A fantastic triplex investment opportunity that promises exceptional potential and remarkable returns! This property offers a unique blend of owner-occupancy and rental income, making it a truly appealing prospect for savvy investors seeking both stability and growth. Situated in a sought-after location, this triplex is currently arranged with one unit occupied by the owner and two units rented out to long-term tenants. However, here's where the excitement begins: The current rental rates, due to the extended tenancy, are well below the market average, creating an incredible opportunity for immediate value enhancement. With the potential to re-rent these units at the prevailing market rates, the rental income could more than double, boosting your investment returns significantly. 4B2B--1582 sf, market rent rate $3800/m 2B1B --822 sf, market rent rate $3000-$3300/m 1B1B--652 sf, market rent rate $2300/m And the roof is newly replaced, the property is with solar panel, save your power cost. when all three units are leased at the market rate, this property is projected to yield an impressive cap rate of approximately 6-7%. This ensures a steady and substantial return on investment, making it a solid addition to your portfolio.
Do not miss out! A fantastic triplex investment opportunity that promises exceptional potential and remarkable returns! This property offers a unique blend of owner-occupancy and rental income, making it a truly appealing prospect for savvy investors seeking both stability and growth. Situated in a sought-after location, this triplex is currently arranged with one unit occupied by the owner and two units rented out to long-term tenants. However, here's where the excitement begins: The current rental rates, due to the extended tenancy, are well below the market average, creating an incredible opportunity for immediate value enhancement. With the potential to re-rent these units at the prevailing market rates, the rental income could more than double, boosting your investment returns significantly. 4B2B--1582 sf, market rent rate $3800/m 2B1B --822 sf, market rent rate $3000-$3300/m 1B1B--652 sf, market rent rate $2300/m And the roof is newly replaced, the property is with solar panel, save your power cost. when all three units are leased at the market rate, this property is projected to yield an impressive cap rate of approximately 6-7%. This ensures a steady and substantial return on investment, making it a solid addition to your portfolio.

Property details

Building

3 total stories

Built in 1940

3056 total building sqft

No Common Walls

Three Or More

Community

Street Lights

Suburban

Expenses

Insurance Expense: $2,400

Operating Expense: $10,900

Garage

4 garage spaces

Income

Gross Income: 0

Gross Scheduled Income: 112800

Net Operating Income: 101900

Laundry

Common Area

Listing

Listing ID: AR23133437

Property Subtype: Triplex

First day on market

Listed on 2023-07-27

Rent controlled

Location

County: Los Angeles

Lot

9286 sqft

0.2132 acres

Area: 9286

0-1 Unit/Acre

Parking

4 total parking spaces

Property

2 buildings

3 units

Sewer

Public Sewer

Utilities

3 separate electric meters

3 separate gas meters

Monthly cost

Estimated monthly cost

$11,152/mo

All calculations are estimates and provided for informational purposes only. Actual amounts may vary.

Seller fees & commissions

Home sale price

$

Outstanding mortgage

$

Selling with traditional agent

Selling with Unreal Estate agent

Your total sale proceeds$1,645,000

+$52,500

$1,697,500

Seller agent commission$52,500 (3%)*

$0 (0%)

Buyer agent commission$52,500 (3%)*

$52,500 (3%)*

*Commissions are based on national averages and not intended to represent actual commissions of this property

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with an Unreal Estate agent

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Unreal Estate checked: May 2, 2024 at 4:52 p.m.

Data updated: Jul 28, 2023 at 2:06 p.m.

Property listed by Coldwell Banker Dynasty Arc., Henry Liu
Based on information from California Regional Multiple Listing Service, Inc. as of 07/28/2023 and/or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
Listing Information © 2024 California Regional MLS. All Rights Reserved.

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