7222 9th Avenue,  Los Angeles CA, 90043 (Residential Income)

1,255 sqft
Status: Backup Offers
MLS#: SB16189184
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Last Updated: 12/9/2016 4:58 PM
Description for 7222 9th Avenue Los Angeles, CA 90043
BOM buyer didn't perform... Don't miss out on this fantastic value-add investment opportunity with two detached homes that will both be delivered vacant at COE!!! This duplex features a front 2 bedroom 1 bath detached house ($1,600/mth market), and then there's a rear detached 1 bedroom 1 bath house ($1,300/mth market). At the $429,000 asking price, the property is only $214,500/unit; a 12.33 current GRM; a 4.86% current CAP Rate; and $342/Sq. Ft. There's 1,255 total rentable sq. ft. between the two units, and it's a spacious 6,083 sq. ft. lot that has a lot of great outdoor space for entertaining & privacy. There is a large two-car detached garage and a long driveway with ample space to park several cars. The property does need some general repairs & upgrades. This Park Hill Heights area is well-located directly next to Inglewood and minutes from the Forum; the new huge Hollywood Park development, and the future LA Rams stadium so don't miss this great opportunity to invest and see great appreciation over the coming years. Walking distance to future Metro train line along Crenshaw too!
Price
$429,000
Los Angeles
1,255 (approx)
SB16189184
Backup Offers
Description
BOM buyer didn't perform... Don't miss out on this fantastic value-add investment opportunity with two detached homes that will both be delivered vacant at COE!!! This duplex features a front 2 bedroom 1 bath detached house ($1,600/mth market), and then there's a rear detached 1 bedroom 1 bath house ($1,300/mth market). At the $429,000 asking price, the property is only $214,500/unit; a 12.33 current GRM; a 4.86% current CAP Rate; and $342/Sq. Ft. There's 1,255 total rentable sq. ft. between the two units, and it's a spacious 6,083 sq. ft. lot that has a lot of great outdoor space for entertaining & privacy. There is a large two-car detached garage and a long driveway with ample space to park several cars. The property does need some general repairs & upgrades. This Park Hill Heights area is well-located directly next to Inglewood and minutes from the Forum; the new huge Hollywood Park development, and the future LA Rams stadium so don't miss this great opportunity to invest and see great appreciation over the coming years. Walking distance to future Metro train line along Crenshaw too!
Listing Information
Property Type: Cluster, Other
0.14 Acres 608,300 sq.ft. 1,255 (approx)
$341.83 1957
Yes- 2 spaces
2 Total
Neighborhood
Room Information
Exterior / Lot Features
2 Garage Spaces, 5 Parking Spaces, Driveway
None
No Pool
LARD3
Urban
Driving Directions
Cross Streets: Florence & 9th Avenue
Financial Considerations
4012001021
$31,800 Income ,$10,000Expense
Listing Price History

Los Angeles Real Estate

Los Angeles is located in California. Los Angeles, California 90043 has a population of 3,804,503.

The median household income in Los Angeles, California 90043 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 90043 is 34.1 years.

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Courtesy: Keller Williams Beach Cities Matthew Dunfrund
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