1719 Miramar StLos Angeles, CA 90026

Property Details for 1719 Miramar St

Year built

1910

Property size (Sq ft)

3,540 SF

Property type

Residential income properties

Property subtype

Multifamily properties

Description

This exceptional 4-unit apartment building in Los Angeles, CA presents a compelling investment opportunity. Located at 1719 Miramar St, 90026, this property boasts 3,540 square feet of rentable space situated on a 4,200 square foot lot. The building, constructed in 1910, has undergone significant improvements, including recent termite treatment, a new roof, updated copper plumbing, and a new ABS main line. Each of the four units, a mix of two-bedroom/one-bathroom and three-bedroom/one-bathroom configurations, benefits from individual meters. Ample rear parking is available for residents. Currently operating at 100% occupancy, the property generates a substantial net operating income (NOI) of $60,274, yielding a 5.24% cap rate. However, a pro-forma analysis reveals a significant upside potential, projecting a NOI of $78,697 and a 6.84% cap rate based on a 21% rental increase. The asking price is $1,150,000, translating to $325 per square foot and $287,500 per unit. The property is zoned Lar3 and features the APN 5153-002-024. This well-maintained building offers immediate cash flow and substantial long-term growth potential in a desirable Los Angeles location. The combination of recent upgrades, strong current performance, and significant upside potential makes this a truly attractive investment.

Location Insight

City

Los Angeles

County

Los Angeles

State

California

Latitude

34.0619

Longitude

-118.268

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