2853 Buckingham Road, Los Angeles, CA 90016 - MLS#SR25095596

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Nicole Hazelton

[email protected] +1(619) 206-1892

$1,549,000

Est. payment - /mo

8 Beds

4 Baths

7,000 Sqft Lot

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Key Details

Property Type Multi-Family

Sub Type Res Income 2-4 Units

Listing Status Active

Purchase Type For Sale

MLS Listing ID SR25095596

Bedrooms 8

HOA Y/N No

Lot Size 7,000 Sqft

Property Sub-Type Res Income 2-4 Units

Property Description

We are proud to present an exceptional Spanish style 4-unit building in the heart of West Adams. Built in 1930, the subject consists of four spacious 2 bedroom / 1 bath units each with Spanish style details and charm, in-unit washer/dryers, and individual water heaters. Located in an opportunity zone which can offer powerful tax incentives for investors. Recent improvements to the well-maintained building include exterior paint, new fencing surrounding the property, main sewer line replacement, roof weather coating, and interior remodeling of 2 units. Highly desirable corner lot at the intersection of Buckingham Rd and 29th St with 4 covered garages, 3 of which are vacant and can either be rented for at least $125 each or can be built into 1 or more ADUs to generate further rental income. With current rental upside of 34%, the building presents an amazing value add opportunity in an unbeatable location close to Downtown LA, the 10 freeway, and the Westside. All units are currently eligible for City of LA 4% annual rent increase, which buyer can implement immediately to bring annual income to $110,719.20 and GRM to 13.9!
We are proud to present an exceptional Spanish style 4-unit building in the heart of West Adams. Built in 1930, the subject consists of four spacious 2 bedroom / 1 bath units each with Spanish style details and charm, in-unit washer/dryers, and individual water heaters. Located in an opportunity zone which can offer powerful tax incentives for investors. Recent improvements to the well-maintained building include exterior paint, new fencing surrounding the property, main sewer line replacement, roof weather coating, and interior remodeling of 2 units. Highly desirable corner lot at the intersection of Buckingham Rd and 29th St with 4 covered garages, 3 of which are vacant and can either be rented for at least $125 each or can be built into 1 or more ADUs to generate further rental income. With current rental upside of 34%, the building presents an amazing value add opportunity in an unbeatable location close to Downtown LA, the 10 freeway, and the Westside. All units are currently eligible for City of LA 4% annual rent increase, which buyer can implement immediately to bring annual income to $110,719.20 and GRM to 13.9!

Location

State CA

County Los Angeles

Area Los Angeles (90016)

Zoning Assessor

Building

Lot Description Curbs, Sidewalks

Story 2

Lot Size Range 4000-7499 SF

Others

Monthly Total Fees $55

Acceptable Financing Cash, Conventional

Space Rent $1,520

Listing Terms Cash, Conventional

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Listed by Anie Mayelian • Keller Williams Realty Calabasas

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Nicole Hazelton

+1(619) 206-1892

Broker Associate | License ID: 01819363

Broker Associate License ID: 01819363

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2853 Buckingham Road Los Angeles, CA 90016

Nicole Hazelton

Key Details

Location

Building

Others

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