About 7408 Elsie Street
5-Unit Turnkey property with extremely strong proven rents. 4 Studios averaging $1548/Month and a 2-Bed Unit rented at $1900/Month with gross rents at $97,104. The subject property is highlighted by a large lot where multiple ADUs are a possibility. Operating at 9.27 GRM and stabilizes at 7.40 GRM. The one story structure is wood frame stucco. The zoning for the lot is LCR3 situated on 4,718 SF. With the addition of ADUs, the cap rate will jump substantially north of a 10% cap rate. It's a perfect opportunity to acquire one of the strongest income deals in Los Angeles.
Features of 7408 Elsie Street
| MLS® # | SB24219230 |
|---|---|
| Price | $900,000 |
| Bathrooms | 0.00 |
| Acres | 0.11 |
| Year Built | 1926 |
| Type | Residential Income |
| Sub-Type | Apartment |
| Status | Active |
Community Information
| Address | 7408 Elsie Street |
|---|---|
| Area | C37 - Metropolitan South |
| City | Los Angeles |
| County | Los Angeles |
| State | CA |
| Zip Code | 90001 |
Listing Map
Amenities
| Is Waterfront | No |
|---|---|
| Has Pool | No |
| Pool | None |
Interior
| Heating | Central |
|---|---|
| Has Basement | No |
| Fireplace | No |
| # of Stories | 1 |
| Stories | One |
Exterior
| Lot Description | ZeroToOneUnitAcre |
|---|
Additional Information
| Date Listed | October 22nd, 2024 |
|---|---|
| Days on Market | 43 |
| Zoning | LCR3* |
| Foreclosure | No |
| Short Sale | No |
| RE / Bank Owned | No |
Listing Details
| Agent | Aaron Jacobson |
|---|---|
| Office | Lyon Stahl Investment Real Estate, Inc. |