2014 Michigan Avenue

    Los Angeles (City), CA 90033
    • $1,079,000
    • STATUS: Active
    • ON SITE: 29 days
    • ID#: 19501368
    UPDATED: 59 min ago
    $1,079,000
    • 0
      BEDS
    • 0.17
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 3,643
      SQFT
    • $296
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    2012
    County:

    School Ratings & Info

    Description

    Michigan Avenue offers an investor a unique opportunity to own four (4) units in a prime pocket of the heavily sought-after Boyle Heights. Two of the four units are not subject to rent control (Studio and One-Bedroom). The property is located near Highway 10 and the Metro - Mariachi Plaza/Boyle Heights Station (Gold Line), offering current and future tenants' easy access to Downtown Los Angeles, the Arts District and Highland Park. Additionally, for local amenities, 2014 Michigan Avenue is steps to the bustling nightlife of 1st Street, shops on Cesar E Chavez and Hollenbeck Park - truly the heart of the gentrifying Boyle Heights neighborhood in Los Angeles. As far as financing is concerned, we are able to provide you with fantastic terms from a well-known lender that will offer a buyer 35% Down Payment, Interest Only Payments for five (5) years, that would allow a buyer to enjoy over 5% cash on cash return on current rents.

    Monthly Payment Calculator



    Based on information from California Regional Multiple Listing Service, Inc. as of 2019-09-18T08:39:24.233. 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 deemed reliable but is not guaranteed accurate by the MLS or J1 REALTY GROUP. Licensed in the State of California, USA.
    www.j1re.com/homes/98100575

    2014 Michigan Avenue Los Angeles (City), CA 90033

    • Price: $1,079,000
    • Status: Active
    • Updated: 59 min ago
    • ID#: 19501368
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.17
    Acres
    3,643
    SQFT
    $296
    $/SQFT
    2012
    Built
    Neighborhood:
    BOYH - Boyle Heights
    County:
    Los Angeles
    Area:
    BOYH - Boyle Heights
    Property Description
    Michigan Avenue offers an investor a unique opportunity to own four (4) units in a prime pocket of the heavily sought-after Boyle Heights. Two of the four units are not subject to rent control (Studio and One-Bedroom). The property is located near Highway 10 and the Metro - Mariachi Plaza/Boyle Heights Station (Gold Line), offering current and future tenants' easy access to Downtown Los Angeles, the Arts District and Highland Park. Additionally, for local amenities, 2014 Michigan Avenue is steps to the bustling nightlife of 1st Street, shops on Cesar E Chavez and Hollenbeck Park - truly the heart of the gentrifying Boyle Heights neighborhood in Los Angeles. As far as financing is concerned, we are able to provide you with fantastic terms from a well-known lender that will offer a buyer 35% Down Payment, Interest Only Payments for five (5) years, that would allow a buyer to enjoy over 5% cash on cash return on current rents.
    Exterior Features

    Lot Size Units Square Feet Parking Features Other Parking YN Yes

    Interior Features

    Cooling See Remarks Cooling YN Yes Laundry Features See Remarks

    Property Features

    Cap Rate 4.14 Gross Multiplier 15.83 Gross Operating Income 66169.00 Improvements Amount 244038 Land Value 180375 Laundry YN Yes Net Operating Income 44690.00 Special Listing Conditions Standard Total Expenses 21479.00 Zoning Lard1.5

    Listing provided courtesy of David Harrington of Matthews Real Estate Investmen


    Based on information from California Regional Multiple Listing Service, Inc. as of 2019-09-18T08:39:24.233. 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 deemed reliable but is not guaranteed accurate by the MLS or J1 REALTY GROUP. Licensed in the State of California, USA.
     
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    16755 Von Karman Ave, Ste 200
    Irvine CA, 92606