Skip To Content
    Return to Previous Page

    601 W 49th Street

    Los Angeles, CA 90037
    • $1,050,000
    • STATUS: Active
    • ON SITE: 17 days
    • ID#: P1-1011
    UPDATED: 25 min ago
    $1,050,000
    • 0
      BEDS
    • 0.16
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 5,546
      SQFT
    • $189
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1923
    County:

    School Ratings & Info

    Description

    Located at 601 West 49th Street in Los Angeles, California, this four-unit apartment complex offers a 'ready-to-issue' garage conversion accessory dwelling unit for a legal market-rate fifth unit. Currently, three of the four units are vacant offering huge upside to a new buyer. Inclusive of the fifth unit ADU, the building offers a total square footage of +/-5,546 on a +/-6,794 square foot lot.Each of the existing four units are large with a possibility to create additional bedrooms for higher potential rent (buyer to verify). Furthermore, each unit offers separate water heaters and washer/dryer hook-ups allowing for an owner to provide premium finishes for a new potential renter. Currently, the asset qualifies for a 30-year fixed residential financing. With proper timing, there is potential for a Buyer to lock in double digit cash flows for the following 30 Years (Buyer to verify). By refinancing the asset prior to the issuance of the ADU's certificate of occupancy, a Buyer may finance their new five-unit asset with residential financing (Buyer to Verify).

    Monthly Payment Calculator



    Based on information from CRISNet MLS as of 2020-09-18T07:55:58.893. 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.

    The information being provided by the CSMAR MLS is for the visitor's personal, noncommercial use and may not be used for any purpose other than to identify prospective properties the visitor may be interested in purchasing. The data contained herein is copyrighted by CSMAR or one of CSMAR's datashare partners, and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Any property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the CSMAR MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. The accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.

    Based on information from the i-Tech MLS as of 2020-09-18T07:55:58.893. 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/109558073
    Print Image

    601 W 49th Street Los Angeles, CA 90037

    • Price: $1,050,000
    • Status: Active
    • Updated: 25 min ago
    • ID#: P1-1011
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.16
    Acres
    5,546
    SQFT
    $189
    $/SQFT
    1923
    Built
    Neighborhood:
    Not Applicable
    County:
    Los Angeles
    Property Description
    Located at 601 West 49th Street in Los Angeles, California, this four-unit apartment complex offers a 'ready-to-issue' garage conversion accessory dwelling unit for a legal market-rate fifth unit. Currently, three of the four units are vacant offering huge upside to a new buyer. Inclusive of the fifth unit ADU, the building offers a total square footage of +/-5,546 on a +/-6,794 square foot lot.Each of the existing four units are large with a possibility to create additional bedrooms for higher potential rent (buyer to verify). Furthermore, each unit offers separate water heaters and washer/dryer hook-ups allowing for an owner to provide premium finishes for a new potential renter. Currently, the asset qualifies for a 30-year fixed residential financing. With proper timing, there is potential for a Buyer to lock in double digit cash flows for the following 30 Years (Buyer to verify). By refinancing the asset prior to the issuance of the ADU's certificate of occupancy, a Buyer may finance their new five-unit asset with residential financing (Buyer to Verify).
    Exterior Features

    Fence YN No Fencing None Levels Two Lot Features Sprinklers None Lot Size Area 0.1600 Parking Total 0.00 View None View YN No

    Interior Features

    Appliances None Appliances YN No Common Walls 1 Common Wall Cooling Wall/Window Unit(S) Cooling YN Yes Fireplace Features None Fireplace YN No Laundry Features Gas Dryer HookupWasher Hookup Laundry YN Yes

    Property Features

    Community Features Sidewalks Fuel Expense 0.00 Gross Income 102540.00 Gross Multiplier 10.24 Gross Scheduled Income 102540.00 Insurance Expense 2773.00 Land Lease YN No Maintenance Expense 2984.00 Net Operating Income 73929.00 New Taxes Expense 12330.00 Number Of Separate Electric Meters 4 Number Of Separate Gas Meters 4 Number Of Separate Water Meters 1 Operating Expense 25535.00 Pool Features None Pool Private YN No Professional Management Expense 0.00 Property Attached YN Yes Property Sub Type Apartment Rent Control YN Yes Senior Community YN No Sewer Unknown Spa Features None Spa YN No Special Listing Conditions Standard Subdivision Name Other Not Applicable Tenant Pays ElectricityGas Total Expenses 25535.00 Trash Expense 0.00 Water Sewer Expense 4875.00 Water Source See Remarks Zoning Lard2

    Listing provided courtesy of Casey Picard, CA DRE# , of Keller Williams Realty.


    Based on information from CRISNet MLS as of 2020-09-18T07:55:58.893. 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.

    The information being provided by the CSMAR MLS is for the visitor's personal, noncommercial use and may not be used for any purpose other than to identify prospective properties the visitor may be interested in purchasing. The data contained herein is copyrighted by CSMAR or one of CSMAR's datashare partners, and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Any property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the CSMAR MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. The accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.

    Based on information from the i-Tech MLS as of 2020-09-18T07:55:58.893. 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.
     
    https://bt-photos.global.ssl.fastly.net/crisnet/orig_boomver_1_364697441-1.jpg https://bt-photos.global.ssl.fastly.net/crisnet/orig_boomver_1_364697441-1.jpg https://bt-photos.global.ssl.fastly.net/crisnet/orig_boomver_1_364697441-1.jpg
    Logo
    Lydia Gable Realty Group | Compass
    2945 Townsgate Road Suite 300
    Westlake Villiage CA, 91377