645 W 97Th Street

Los Angeles, CA 90044

$2,099,000

Listed Price
12

bed Beds

9

shower Baths

4,800 sqft

straighten / sqft

2019

calendar_month Built

Property Description

NEWLY PRICED AT CAP RATE OF 6%! Modern spacious triplex newly built in 2019, centrally located with easy access to freeways, restaurants, shopping, and more. This unit is neither under state nor city rent control, offering an extremely unique opportunity to take advantage of rapidly rising rental costs in Los Angeles without being hamstrung by local laws that limit most units from raising rent to prevailing market rates. The front home is a completely independent, detached home with 4 beds, 3 baths, 1,700 square feet, and a two car garage. Building at the rear of the lot is more private, each unit also containing 4 beds, 3 baths, and 1,561 square feet. All units promise consistent cash flow (two units are guaranteed by Section 8) and all are designed with open living space floorplans, primary bedrooms, and in-unit laundry. Due to the units being brand new construction as of 2019, there are close to zero maintenance costs and the new construction building warranty guarantees the new owner against latent hidden repairs and/or costs. Hardscaped exterior driveways allow for ample parking, with additional yard space secured by a gate, which also adds extra security for the grounds. All units are separately metered for gas, electricity, and water and the lease requires each tenant to pay his or her own utilities, which further saves the owner monthly expenses. In addition to rental income that is not capped, there is significant potential for appreciation on this property with the upcoming nearby Olympic events, expanding public transportation system, and an influx of investment into the area. Priced at a cap rate of 6% this deal is a no-brainer. Owner self manages the property but is moving out of state and will be utilizing sale proceeds to fund 1031 out of state purchase.

Interior Features

Bedroom Information
Bedrooms 12
Bathroom Information
Bathrooms 9
Fireplace Information
Features None
Interior Information
Cooling Type Central Air

Listing Information

Address 645 W 97Th Street
City Los Angeles
State CA
Zip 90044
County Los Angeles
Listing Agent Amir Torkamani DRE#01928629
Courtesy Of Esquire Real Estate Brokerage, Inc.
MLS 23285563
List Price $2,099,000
Status Active
Type Residential Income
Structure Size 4,800
Lot Size 6,301
Year Built 2019
DOM 90

Exterior Information

Maps

Listing information courtesy of: Amir Torkamani, Esquire Real Estate Brokerage, Inc. . *Based on information from the Association of REALTORS/Multiple Listing as of Sep 12th, 2024 at 2:11 AM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.