Los Angeles CA  home offered at $3,600,000 

Call Lisa DiNoto Group at (909)921-2544 to see this home.

 

2221 MICHIGAN Avenue
Los Angeles, California CA 90033
Price: $3,600,000
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Listing ID: 17293336
Price/SqFt: $390.07
Status: Pending
SqFt: 9,229 Sq Ft
Acres: 0.139 Acres
Year Built: 1926

We are pleased to offer for sale this thirty-two (32) unit multifamily investment offering, located in the City of Los Angeles. This two-story building was constructed of wood frame and stucco on a raised foundation built in 1926 with a square footage of 9,229 on a 6,055-square foot lot. Meticulously landscaped and recently renovated, the subject property represents a very desirable asset in the supply-constrained Boyle Heights sub-market. The building has been reinforced and upgraded in compliance with the latest city codes and regulations, and is comprised of a remarkable unit mix, consisting of twenty-four (24) bachelor units, six (6) studio units, and two (2) 1+1 units. The investment is subject to the City of Los Angeles rent control regulation.

Primary Features

Cooling Type: See Remarks
County: Los Angeles
MLS Area Major: BOYH - Boyle Heights
Special Listing Conditions: Standard
Year Built: 1926
Zoning: LAR4

Additional

Laundry Features: See Remarks
Laundry: yes
Lot Size Source: Appraiser
Lot Size Units: Square Feet
Number Of Units Total: 32

Interior Features

Cooling: yes
Stories Total: 2

Financial Details

Cap Rate: 6.7
Gross Multiplier: 9.7
Gross Operating Income: 371244
Improvements Amount: 479213
Land Value: 721824
Net Operating Income: 240048
Total Expenses: 120419

External Features

Lot Size Area: 6055
Lot Size Square Feet: 6055
Number Of Buildings: 1

Location Information

Zoning Info


© 2019. The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by Multi-Regional Multiple Listing Service, Inc. ("MRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and MRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional. Listing courtesy of Davis Saadian from BRC Advisors . Last updated Thursday, April 18th, 2019.

Contact - Listing ID 17293336

Lisa DiNoto

8250 White Oak
Rancho Cucamonga, CA 91730
Phone: 9099212544

Data services provided by IDX Broker
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