160 W 59th Street,  Los Angeles CA, 90003 (Residential Income)

2,700 sqft
Status: Active
MLS#: WS16720398
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Last Updated: 12/7/2016 1:57 PM
Description for 160 W 59th Street Los Angeles, CA 90003
***LOWEST PRICE PER SQUARE FOOT DUPLEX IN THE AREA*** 2 legal Units, with a BONUS 3RD UNIT, on a Palm Tree Lined Street! PERFECT FOR FHA-203K, or Conventional Financing. Front House is a 4 Bedroom Original Craftsman Home, with tons of Charm, and boasting Over 1,760sf. With a little TLC, this unit will shine! All original Wood floors, and Beamed Ceilings round out the Living and Dining Areas. Stone Wall Fireplace, Original Wood Framed Windows and Doors, keep the Integrity in tact, and Built Ins and Pillars are just the Cherry on top! This house can be Restored to its original Glory, very easily... Long Driveway for Parking. Rear Structure is a 2 car garage with Barn style doors. Upstairs Houses a 2 Bedroom 1 bath Rental Unit, and Bonus 3rd Unit Downstairs, intended for storage, but is a functional Studio with small Kitchen and Bath.. This property has the potential for a 9%Cap rate if Rents are Increased and 3rd unit rent is collected. Rents are not currently at Max Potential, and Expenses are extremely low. Rear 2 bedroom unit Collects $1,280/Month in rental income, and Bonus unit can Potentially collect $700/month. Live in the front house, and collect nearly $2K/month in rent to supplement your mortgage, and Restore this Beautiful Craftsman!
Price
$439,000
Los Angeles
2,700 (approx)
WS16720398
Active
Description
***LOWEST PRICE PER SQUARE FOOT DUPLEX IN THE AREA*** 2 legal Units, with a BONUS 3RD UNIT, on a Palm Tree Lined Street! PERFECT FOR FHA-203K, or Conventional Financing. Front House is a 4 Bedroom Original Craftsman Home, with tons of Charm, and boasting Over 1,760sf. With a little TLC, this unit will shine! All original Wood floors, and Beamed Ceilings round out the Living and Dining Areas. Stone Wall Fireplace, Original Wood Framed Windows and Doors, keep the Integrity in tact, and Built Ins and Pillars are just the Cherry on top! This house can be Restored to its original Glory, very easily... Long Driveway for Parking. Rear Structure is a 2 car garage with Barn style doors. Upstairs Houses a 2 Bedroom 1 bath Rental Unit, and Bonus 3rd Unit Downstairs, intended for storage, but is a functional Studio with small Kitchen and Bath.. This property has the potential for a 9%Cap rate if Rents are Increased and 3rd unit rent is collected. Rents are not currently at Max Potential, and Expenses are extremely low. Rear 2 bedroom unit Collects $1,280/Month in rental income, and Bonus unit can Potentially collect $700/month. Live in the front house, and collect nearly $2K/month in rent to supplement your mortgage, and Restore this Beautiful Craftsman!
Listing Information
Property Type: Cluster, Other
0.13 Acres 579,500 sq.ft. 2,700 (approx)
$162.59 1912
Yes- 2 spaces
3 Total
Neighborhood
Room Information
Exterior / Lot Features
2 Garage Spaces, 2 Parking Spaces
None
No Pool
LAR2
Sidewalks
Driving Directions
South on Broadway, Left on 59th Street. Property will be on right hand side.
Financial Considerations
6005012001
$15,360 Income ,$6,874Expense
Listing Price History

Los Angeles Real Estate

Los Angeles is located in California. Los Angeles, California 90003 has a population of 3,804,503.

The median household income in Los Angeles, California 90003 is $49,745. The median household income for the surrounding county is $56,241 compared to the national median of $53,046. The median age of people living in Los Angeles 90003 is 34.1 years.

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Courtesy: REH REAL ESTATE ROBERT SILVA
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