Los Angeles, CA 90044 916 W 88th Street
$869,000
33 more
Presented By: Jeffrey Isenberg with Buckingham Investments, Inc; 818-795-4477
- MLS# SB24211066
- 10/11/2024
Disclaimer: The information contained in this listing has not been verified by Sell Buy OC Homes and should be verified by the buyer.
Beds • 1
Baths • 1
SQFT • 2,004
Home Details
Updated and well maintained 3-unit property with newly built ADU offering strong 4-unit rental income in the Vermont Vista neighborhood. This cash flowing property features spacious one bedroom bungalow units that were remodeled prior to current occupancy. This is a great investor opportunity offered at a 12.33 GRM and 5.4 Cap Rate on current rents with an additional 20% upside. Easy access to public transportation including the Metro Blue Line into downtown & south to the Ocean in Long Beach. Adjacent to the 110 (Harbor) Fwy & close proximity to local Elementary & Middle schools. Approximately 3 miles from the Downtown Inglewood Entertainment District including SoFi Stadium, Intuit Dome and Hollywood Park Development. 2/10 of a mile to the Algin Sutton Recreation Center with Tennis & Basketball Courts, Baseball, Soccer Fields, Fitness Zones, Play Areas & Swimming Pools. Don't miss out on this fantastic opportunity!
Presented By: Jeffrey Isenberg with Buckingham Investments, Inc; 818-795-4477
Interior Features for 916 W 88th Street
Other Interior Features
Air Conditioning Y/NNo
Basement (Y/N)No
Common WallsNoCommonWalls
Fireplace FeaturesNone
Fireplace Y/NNo
FlooringLaminate
Heating Y/NYes
Interior AmenitiesCeilingFans, QuartzCounters, RecessedLighting, BedroomOnMainLevel
Laundry FeaturesNone
Total Stories1
Window FeaturesDoublePaneWindows
Other Rooms
Entry Level1
General for 916 W 88th Street
AccessibilityNone
Additional Parcels Y/NNo
AppliancesGasRange, Microwave, Refrigerator
Attached Garage No
Building Area UnitsSquareFeet
Cap Rate5.4
Carport Spaces0.0
Carport Y/NNo
CityLos Angeles
Community FeaturesPark, Sidewalks
Construction MaterialsStucco
CoolingNone
CountyLos Angeles
DirectionsProperty is located South of Manchester Ave between Vermont Ave. & S Hoover St., West of the 110 Fwy.
DisclosuresAccessoryDwellingUnit, RentControl
ElectricElectricityOnProperty
Electric On Property Y/NNo
Entry LocationFront
ExclusionsTenants Personal Property
Garage Spaces0.0
Garage Y/NNo
Gross Income72924.0
HOANo
HOA Fee$0.0
HeatingWallFurnace
Home Warranty Y/NNo
Insurance Expense2000.0
Land Lease Y/NNo
Lease Considered Y/NNo
Lease Renewal Y/NNo
LevelsOne
Listing TermsCash, CashToNewLoan, Conventional
Lot Size Square Feet5129.0
Lot Size UnitsSquareFeet
MLS AreaC36 - Metropolitan Southwest
MobileHomeRemainsYNNo
Net Operating Income54018.0
New ConstructionNo
Number Of Units Total4
Open Parking Spaces0.0
Operating Expense16718.0
Pool FeaturesNone
PossessionCloseOfEscrow
Property Attached Y/NNo
Property ConditionUpdatedRemodeled
Property Sub Type AdditionalTriplex
Property SubtypeTriplex
Property TypeResidentialIncome
Rent Control Y/NNo
RoofFlat
Security FeaturesCarbonMonoxideDetectors, SmokeDetectors, WindowBars
Senior Community Y/NNo
SewerPublicSewer
Spa FeaturesNone
Special Listing ConditionsStandard
Standard StatusActive
StatusActive
Stories1
Tax Lot130
Taxes$11,238
Tenant PaysElectricity, Gas
Total Actual Rent5952.0
Trash Expense0.0
UtilitiesElectricityConnected, NaturalGasConnected, SewerConnected
ViewNone
Water Sewer Expense2880.0
Waterfront Y/NNo
Year Built1923
Year Built SourcePublicRecords
ZoningLARD3
Exterior for 916 W 88th Street
Building Area Total2004.0
Crops Included Y/NNo
Door FeaturesInsulatedDoors
Exterior AmenitiesAwnings
FencingChainLink
Horse Y/NNo
InclusionsRange, Refrigerator & Microwave located in the ADU.
Irrigation Water Rights Y/NNo
Lot FeaturesZeroToOneUnitAcre
Lot Size Acres0.1177
Lot Size Area5129.0
Lot Size SourceAssessor
Number of Buildings4
Number of Separate Electric Meters4
Number of Separate Gas Meters4
Number of Separate Water Meters1
Open Parking Y/NNo
Parking FeaturesNone
Private PoolNo
Road Frontage TypeCityStreet
Road Surface TypePaved
SpaNo
Total Parking0.0
Water SourcePublic
Additional Details
Price History
Hal Schlegel
Broker Associate