6325 Marconi Street

    Huntington Park, CA 90255
    • $3,240,000
    • STATUS: Active
    • ON SITE: 26 days
    • ID#: 19502654
    UPDATED: 38 min ago
    $3,240,000
    • 0
      BEDS
    • 0.35
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 10,881
      SQFT
    • $298
      $/SQFT

    School Ratings & Info

    Description

    We are pleased to announce the sale of 6325 Marconi Street, an 18-unit non-rent controlled multifamily property in Huntington Park, CA, a dense rental market in Southeast Los Angeles. This offering presents a rare opportunity to purchase a non-rent controlled property with rents that are still far below market levels. Due in part to recent rent growth in the Huntington Park area, where rents have increased by 7.0% year-over-year, the current rents sit approximately 29% below those of similar units in the area.Insulated from crowded traffic corridors, the building sits among single family homes and smaller multifamily properties, yet its location still allows tenants convenient access to the Pacific Boulevard Shopping District. The ample on-site covered parking allows space for 20 vehicles, while an on-site laundry room provides an additional income stream for the owner.

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2019-09-18T11:37:15.517. 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/98206728

    6325 Marconi Street Huntington Park, CA 90255

    • Price: $3,240,000
    • Status: Active
    • Updated: 38 min ago
    • ID#: 19502654
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.35
    Acres
    10,881
    SQFT
    $298
    $/SQFT
    1964
    Built
    Neighborhood:
    T1 - Vernon, Maywood, Hunt Pk & Bell, N of Florenc
    County:
    Los Angeles
    Area:
    T1 - Vernon, Maywood, Hunt Pk & Bell, N of Florenc
    Property Description
    We are pleased to announce the sale of 6325 Marconi Street, an 18-unit non-rent controlled multifamily property in Huntington Park, CA, a dense rental market in Southeast Los Angeles. This offering presents a rare opportunity to purchase a non-rent controlled property with rents that are still far below market levels. Due in part to recent rent growth in the Huntington Park area, where rents have increased by 7.0% year-over-year, the current rents sit approximately 29% below those of similar units in the area.Insulated from crowded traffic corridors, the building sits among single family homes and smaller multifamily properties, yet its location still allows tenants convenient access to the Pacific Boulevard Shopping District. The ample on-site covered parking allows space for 20 vehicles, while an on-site laundry room provides an additional income stream for the owner.
    Exterior Features

    Lot Features Sprinklers None Lot Size Source Assessor Lot Size Units Square Feet Parking Features Garage Parking YN Yes

    Interior Features

    Laundry Features See Remarks

    Property Features

    Cap Rate 4.11 Gross Multiplier 13.45 Gross Operating Income 240921.00 Improvements Amount 346599 Land Value 84288 Laundry YN Yes Net Operating Income 133181.00 Special Listing Conditions Standard Total Expenses 100585.00 Zoning Hpr3*

    Listing provided courtesy of Roderick 'Rick' Raymundo of Marcus & Millichap


    Based on information from California Regional Multiple Listing Service, Inc. as of 2019-09-18T11:37:15.517. 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.
     
    J1 REALTY GROUP
    16755 Von Karman Ave, Ste 200
    Irvine CA, 92606