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    3311 Smith St

    Los Angeles, CA 90031
    • $1,420,000
    • STATUS: Pending
    • ON SITE: 41 days
    • ID#: 20-649960
    Pending
    $1,420,000
    • 13
      BEDS
    • 0.43
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 3,510
      SQFT
    • $405
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1937
    County:

    School Ratings & Info

    School District:

    Description

    3311 - 3317 Smith St is an ideal "value-add" investment that offers a savvy Buyer the opportunity to add value two ways - through increasing rents and also by building 2-5 new units on the unused portion of the lot. Given the low average rents and ability to build 2-5 new units, the property offers a whopping 200%+ upside in rental income! (Rental upside depends on size of units built, finishes, and upgrades in existing 6 units -Buyer to investigate and run own financial analysis). Additionally, the property has low expenses c/o separate water meters and a great location with hillside views and more. Located 1/3 mile from Metro Gold Line Station at Heritage Square, and across from newly approved mixed use development on Pasadena Ave of 468 Units + 16,000 SF of retail. Full Marketing Package available upon request.

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    Based on information from the Combined LA/Westside Multiple Listing Service as of 2020-12-01T23:42:30.557. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
    www.lydiagable.com/homes/111223520
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    3311 Smith St Los Angeles, CA 90031

    • Price: $1,420,000
    • Status: Pending
    • ID#: 20-649960
    13
    Beds
    0
    Baths
    0
    ½ Baths
    0.43
    Acres
    3,510
    SQFT
    $405
    $/SQFT
    1937
    Built
    Neighborhood:
    Lincoln Heights
    County:
    Los Angeles
    Area:
    Lincoln Heights
    School District:
    Los Angeles Unified
    Property Description
    3311 - 3317 Smith St is an ideal "value-add" investment that offers a savvy Buyer the opportunity to add value two ways - through increasing rents and also by building 2-5 new units on the unused portion of the lot. Given the low average rents and ability to build 2-5 new units, the property offers a whopping 200%+ upside in rental income! (Rental upside depends on size of units built, finishes, and upgrades in existing 6 units -Buyer to investigate and run own financial analysis). Additionally, the property has low expenses c/o separate water meters and a great location with hillside views and more. Located 1/3 mile from Metro Gold Line Station at Heritage Square, and across from newly approved mixed use development on Pasadena Ave of 468 Units + 16,000 SF of retail. Full Marketing Package available upon request.
    Exterior Features

    Entry Location Ground Level W/Steps Exterior Construction Stucco Levels Ground Level Lot Description 5 + Lots Lot Size Area 18596 Other Structures None Parking Garage Uncovered Patio Features None Pool Description None Pool YN No Roof Composition Spa None Spa YN No Sprinklers None Style Bungalow Tennis Court None Tennis YN No Total Parking 6 Water Frontage None

    Interior Features

    Baths Total 6.00 Common Walls Detached/No Common Walls Cooking Appliances None Cooling Window Unit(S) Equipment Hood FanGarbage Disposal Fireplace Rooms None Flooring Mixed Foundation Details Raised Heating Wall Gas Laundry None Water Heater Features Gas

    Property Features

    ADACompliance No Alley YN No Disability Access None Gross Income 79960 Gross Operating Income 79960 Like Units1 1 Like Units2 1 Like Units3 1 Like Units4 1 Like Units5 1 Like Units6 1 Monthly Gross Income 6663.00 Net Operating Income 54055.00 Number Of Buildings 6 Number Of Units 6 Rent Control YN Yes Sale Type Standard Security Features Carbon Monoxide Detector(S)Smoke Detector Source Living Area Vendor Enhanced Source Lot Size Area Vendor Enhanced Tenant Pays ElectricityGasWaterTrash Collection Total Annual Expense 25905 Type Of Units Multifamily Water District Water Heaters YN Yes Year Built Source Vendor Enhanced Zoning Lard2

    Listing provided courtesy of Dana Coronado DRE#01746702 of Keller Williams Realty Encino-Sherman Oa.


    Based on information from the Combined LA/Westside Multiple Listing Service as of 2020-12-01T23:42:30.557. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
     
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    Lydia Gable Realty Group | Compass
    2945 Townsgate Road Suite 300
    Westlake Villiage CA, 91377