$1,200,000
$1,150,000
4.3%For more information regarding the value of a property, please contact us for a free consultation.
5 Beds
4 Baths
9,999 Sqft Lot
SOLD DATE : 12/20/2023
Key Details
Sold Price $1,200,000
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Sold
Purchase Type For Sale
MLS Listing ID CV23214270
Sold Date 12/20/23
Bedrooms 5
HOA Y/N No
Lot Size 9,999 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.
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 La Puente (91744)
Zoning Assessor
Building
Lot Description Curbs, Sidewalks
Story 2
Lot Size Range 7500-10889 SF
Level or Stories 2 Story
Others
Monthly Total Fees $156
Acceptable Financing Cash
Space Rent $2,000
Listing Terms Cash
Financing Cash
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Bought with Kristopher German • RE/MAX 2000 REALTY