$1,200,000
$1,150,000
4.3%For more information regarding the value of a property, please contact us for a free consultation.
9,997 Sqft Lot
SOLD DATE : 12/20/2023
Key Details
Sold Price $1,200,000
Property Type Condo
Sub Type Apartment
Listing Status Sold
Purchase Type For Sale
MLS Listing ID CV23214270
Sold Date 12/20/23
HOA Y/N No
Year Built 1959
Lot Size 9,997 Sqft
Property Description
We are pleased to offer for sale this 5 Unit multi-family residential investment property in the city of La Puente. This standout offering is priced to sell, boasting a significant upside of over 30% in rental income, making it an ideal addition for investors seeking cash-flow. The property includes a mix of one 2-bedroom/1-bathroom unit, and four 1-bedroom/1-bathroom units. Each unit is separately metered for electricity and gas, while the owner pays for water and trash. Tenants enjoy the convenience of onsite parking with both garage and car-port options, ensuring ample space for vehicles. Situated on a spacious 10,000 square-foot lot, the property offers ample outdoor space and holds potential for Accessory Dwelling Unit (ADU) conversion, which could add value and increased rental income (buyer to check with proper city authorities.) The city of La Puente does not have any specific local city rent control offering ease of management in this regard. With a current 5.17% CAP Rate and a 13 Gross Rent Multiplier (GRM), the subject property offers a solid return on investment.
Location
State CA
County Los Angeles
Area 699 - Not Defined
Zoning LPR4*
Interior
Fireplace No
Laundry Inside
Exterior
Garage Spaces 2.0
Carport Spaces 4
Garage Description 2.0
Pool None
Community Features Curbs, Gutter(s), Sidewalks
Total Parking Spaces 11
Private Pool No
Building
Lot Description 2-5 Units/Acre
Story 2
Entry Level Two
Sewer Public Sewer
Water Public
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 8210001022
Acceptable Financing Cash, Cash to New Loan
Listing Terms Cash, Cash to New Loan
Financing Cash
Special Listing Condition Standard
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Bought with Kristopher German • RE/MAX 2000 REALTY