Address
863 E Imperial Highway Los Angeles, CA
Price
$ 1,600,000
Property Attributes
  • MLS#21705704
  • TypeContingent
  • CountyLOS ANGELES
  • CityLos Angeles
  • AreaMetropolitan South
  • Zip90059
  • Style
  • Price$ 1,600,000
  • Bedrooms16
  • Full Bathrooms8
  • Half Bathrooms0
  • Sqr Footage6046
  • Lot Size5,759 SqFt
Listing Provided Courtesy Of:
Derrick Vartanian with Keller Williams Silicon Beach.
Data Source:
California Regional MLS (CRMLS) - 25 - CA
Property Description

**847 E Imperial Hwy, 855 E Imperial Hwy, & 863 E Imperial Hwy MUST be sold TOGETHER** We are pleased to present 863 E Imperial Highway - a 7 unit multifamily investment opportunity located in South Los Angeles and built in 1956. The 3 story wood frame stucco building consists of five 2BR+1BA Units , 1 1BR+1BA Unit, and 1 5BR+2BA Unit. There are a total of seven (7) parking spaces: three (3) of which are covered spaces. Several units have recently been partially renovated with laminate flooring, new paint, and new plumbing fixtures. In addition to the extensive interior renovations, the property completed Soft Story Parking Retrofitting, had a brand new roof installed in 2017, completely updated electrical systems, upgraded security lighting, and installed a ADT Security System in each unit. Further, the Seller has started plans to convert the top unit into a 3 Bedroom / 2 Bath Unit. 863 E Imperial Highway has 6,046 SF of livable space situated on a 5,759 SF lot zoned LARD2. This offering is priced to sell at a 6.65% CAP and 9.59 GRM. This attractive investment will reward an intelligent investor with high returns while remaining in the city of Los Angeles. Due to historically high occupancy rates in this market and low estimated annual expenses, an investor can be confident in receiving full rental income and optimizing their investment.

Price History
3/16/2021 Listed $1,600,000

General Features

Carport Y/N Yes
Co-Listing Agent State License # 01483131
Co-listing Agent Jonathan Prakash - BRE#01483131
Heating Wall Furnace
Listing Agent Derrick Vartanian - BRE#01816119
Listing Agent State License 01816119
MLS Area C37 - Metropolitan South
Property Type Residential Income
Special Listing Conditions Standard
Status Active Under Contract
Total Units 7
Zoning LARD2

Interior Features

Heating Y/N Yes

Exterior Features

Lot Dimensions 50x115
Lot Size Acres 0.13
Lot Size Area 5759
Lot Size Source Assessor
Lot Size Square Feet 5759
Lot Size Units Square Feet
Number of Buildings 1
Parking Features Attached Carport, Gated

Amenities

  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult 55+
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Primary On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Contingent Average in 90059

Price
AVG $820K
$1.6M
Visits
AVG 12
14
Year Built
AVG 1941
1956
Walkscore
AVG 60
58
Data Provided by Walkscore ® not using MLS data

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