645 97th Street, Los Angeles
Los Angeles Home For Sale
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 guarentees 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 over 5% 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.
Property Details
Additional Information
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- City:
- Los Angeles
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- County:
- Los Angeles
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- Zip:
- 90044
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- MLS® #:
- 23285563
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- Bedrooms:
- 12
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- Bathrooms:
- 9
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- Square Ft:
- 4,800
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- Lot Size:
- 0.14
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- Levels:
- Two
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- HOA Dues:
- $
Price Change History for 645 97th Street, Los Angeles, (MLS® #23285563)
| Date | Details | Price | Change |
|---|---|---|---|
| Price Reduced (from $2,250,000) | $2,199,000 | $51,000 (2.27%) |
Based on information from California Regional Multiple Listing Service, Inc. as of August 13th, 2024 at 3:46pm PDT. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.