720 Milwaukee Avenue

    Los Angeles (City), CA 90042
    • $1,200,000
    • STATUS: Closed
    • ON SITE: 78 days
    • ID#: CV18130714
    Sold - 08/14/2018
    $1,200,000
    SOLD - 08/14/2018
    • 0
      BEDS
    • 0.13
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 4,240
      SQFT
    • $283
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1922
    County:

    School Ratings & Info

    Description

    Great opportunity to own a 5 unit residential apartment located in highly desirable Highland Park area. Building 1 (#720) is a 2-bedroom, 1-bath, single story built in 1922; Building 2 (# 722-728) has four (4) 2-bedrooms, 1.5-baths townhouse style units that was built in 1964. Each unit is furnished with washer/dryer hookups and separately metered for gas and electric. It is a walking distance to groceries, restaurants, shops and caf+- along York Boulevard, and a short drive to the Metro Gold Line Station, Downtown L.A., Pasadena, Glendale and Eagle Rock. This property appeals to an investor and/or an owner-user looking to occupy one unit and rent out the other four units. Southern California apartment rents are expected to get even pricier over the next two years, as demand increases. In L.A. County, average rents in 2018 are forecast to hit $2,304, up 3% from previous year. In 2019, rents are expected to climb another 3% to $2,373. This is an opportune time for investors. Bring your investor-buyers. All tenants are currently on a month-to-month term. Please DO NOT disturb tenants - Drive by Only.

    Sold by Nick Astrupgaard of Kw Commercial Studio City.

    Monthly Payment Calculator



    Based on information from California Regional Multiple Listing Service, Inc. as of 2018-08-20T23:28:02.63. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.
    www.playavistaliving.com/homes/84191661

    720 Milwaukee Avenue Los Angeles (City), CA 90042

    • Price: $1,350,000
    • Status: Closed
    • Updated: 21 min ago
    • ID#: CV18130714
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.13
    Acres
    4,240
    SQFT
    $283
    $/SQFT
    1922
    Built
    Neighborhood:
    632 - Highland Park
    County:
    Los Angeles
    Area:
    632 - Highland Park
    Property Description
    Great opportunity to own a 5 unit residential apartment located in highly desirable Highland Park area. Building 1 (#720) is a 2-bedroom, 1-bath, single story built in 1922; Building 2 (# 722-728) has four (4) 2-bedrooms, 1.5-baths townhouse style units that was built in 1964. Each unit is furnished with washer/dryer hookups and separately metered for gas and electric. It is a walking distance to groceries, restaurants, shops and caf+- along York Boulevard, and a short drive to the Metro Gold Line Station, Downtown L.A., Pasadena, Glendale and Eagle Rock. This property appeals to an investor and/or an owner-user looking to occupy one unit and rent out the other four units. Southern California apartment rents are expected to get even pricier over the next two years, as demand increases. In L.A. County, average rents in 2018 are forecast to hit $2,304, up 3% from previous year. In 2019, rents are expected to climb another 3% to $2,373. This is an opportune time for investors. Bring your investor-buyers. All tenants are currently on a month-to-month term. Please DO NOT disturb tenants - Drive by Only.
    Exterior Features

    Fence YN Yes Fencing Chain LinkWood Garage Spaces 0.00 Lot Features Corner LotNear Public Transit Lot Size Dimensions 5605 Lot Size Source Assessor Lot Size Units Square Feet Parking Features Off StreetOn Site Parking Total 5.00 Parking YN Yes Pool Features None Pool Private YN No Property Attached YN Yes Roof Shingle

    Interior Features

    Average Studio Area Units Square Feet Average1 Bed Area Units Square Feet Average2 Bed Area Units Square Feet Average3 Bed Area Units Square Feet Common Walls 2+ Common Walls Cooling Wall WindowSee Remarks Cooling YN Yes Flooring CarpetTile Heating Wall Heater Heating YN Yes Laundry Features Gas & Electric Dryer Hookup Levels Multi/Split

    Property Features

    Additional Parcels YN No Association Fee 0.00 Association YN No Building Area Units Square Feet Cap Rate 4.90 Community Features SidewalksStreet Lighting Country Us Electric Electricity - On Property Electric Expense 0.00 Elevation Units Feet Gross Income 105600.00 Gross Operating Income 102432.00 Gross Scheduled Income 105600.00 Insurance Expense 4117.00 Land Lease YN No Laundry YN Yes Licenses Expense 200.00 Maintenance Expense 2616.00 Net Operating Income 68648.00 New Taxes Expense 16686.00 Number Of Separate Electric Meters 5 Number Of Separate Gas Meters 5 Number Of Separate Water Meters 1 Number Of Units Leased 5 Number Wall AC 5 Number With Disposal 5 Operating Expense 33784.00 Other Expense 1442.00 Pest Control Expense 360.00 Professional Management Expense 4200.00 Property Sub Type Apartment Rent Control YN Yes Security Features Carbon Monoxide Detector(S)Smoke DetectorWindow Bars Senior Community YN No Sewer Sewer Paid Special Listing Conditions Standard Tenant Pays Cable TvElectricityGas Total Actual Rent 5984.00 Total Expenses 33784.00 Trash Expense 2204.00 Utilities Sewer ConnectedWater Connected Vacancy Allowance 3168 Vacancy Allowance Rate 3.00 Water Sewer Expense 1959.00 Water Source Public Year Built Source Assessor Zoning Rd2-1

    Listing provided courtesy of Lea Cruzado of L.A. Realty Services and Chai Baldovino of Vince Int'l. Properties, Inc..


    Based on information from California Regional Multiple Listing Service, Inc. as of 2018-08-20T23:28:02.63. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.
     
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