Sold
Listed By:
Andrew Watkins with Silicon Beach Real Estate;
Sold By:
Silicon Beach Real Estate
Address
4205 Don Tomaso Drive, Los Angeles, CA
Price
$ 1,600,000
Property Attributes
  • MLS#23301760
  • TypeMulti-Family
  • CountyLOS ANGELES
  • CityLos Angeles
  • Zip90008
  • Style
  • Price$ 1,600,000
  • Bedrooms9
  • Full Bathrooms7
  • Half Bathrooms0
  • Sqr Footage4700
  • Lot Size8,499 SqFt
Data Source:
California Regional MLS (CRMLS)
Property Description

Silicon Beach Real Estate is proud to present for sale this turn-key 5-unit apartment property located at 4205 Don Tomaso Drive near the Baldwin Hills Crenshaw neighborhood of Los Angeles. Gross Scheduled Income (GSI) $115,457; Annual Expenses $24,644; Net Operating Income (NOI) $90,813; GRM 12.99; Cap Rate 6.02%. An excellent location just a few blocks from the new Crenshaw Metro Line. This well-kept 5-unit property has 4700 square feet of living space and is situated on a large 8,498 square foot parcel. One 3BD/2BA unit will be delivered vacant, allowing new ownership to immediately re-tenant the units and achieve market rental rates. This is the owner's unit and is completely remodeled with lots of natural light, updated kitchen and baths, and in-unit laundry. Also has two 2BD/1BA units, both with hardwood floors and remodeled kitchens. One 2BD unit may be delivered vacant at COE. Also includes 1BD/1.5BA unit and 1BD/1BA unit (this unit has a bonus bedroom not on title, see pictures). Both units well maintained. Onsite laundry room allows for additional income potential. Cute courtyard and hillside backyard area. Garages for off-street parking. Property has been updated with a new roof, upgraded plumbing, new windows and new paint in recent years. Property is due for 7% rent increase after 1/31/24. Property is an easy walk to the Park to Playa trailhead and restaurants such as Post & Beam, Kickin' Crab, and more, located about 1 mile from the Baldwin Hills Crenshaw Plaza, recently purchased by Harridge Development with announced plans for a $1 Billion overhaul. This area has become increasingly popular to those priced out of nearby Westside markets such as Venice and Santa Monica. The continued infrastructure development and improvement of the surrounding area, along with value-add potential for a new owner to renovate units and achieve even better future returns moving forward makes this an excellent acquisition opportunity. Easy commute to LAX, Playa Vista, DTLA. Must see to appreciate! MOTIVATED SELLER. BRING YOUR BEST OFFER!

Price History
9/5/2023 Listed $1,500,000

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 Multi-Family Average in 90008

Price
AVG $1.98M
$1.6M