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1719 Miramar Street

Los Angeles, CA 90026

$1,150,000

List Price

4

bed Beds

4

shower Baths

3,540 sqft

straighten / sqft

1910

calendar_month Built

Property Description

1719 Miramar Street, located in the heart of Los Angeles, presents a clean investment opportunity with significant rental upside. This 4-unit building features a total of 3,540 sq. ft. of rentable space on a 4,200 sq. ft. lot, with a mix of large units two currently operating as 2-bedroom, 1-bathroom units, and two as 3-bedroom, 1-bathroom units. Tax records show all units are 1 bedroom / 1 bathroom. Originally built in 1910, the property has been well-maintained with recent termite tenting, a new roof, copper plumbing, and an ABS main line. Each unit is individually metered, and the property offers ample parking at the rear. Currently generating $7,446 per month ($89,352 annually) with $60,899 in net income, the property has a 5.24% cap rate and a 12.87 GRM. With a 21% rental upside, the potential gross income could rise to $9,000 per month ($108,000 annually) with a net income of $79,322, boosting the cap rate to 6.84% and improving the GRM to 10.65. Priced at $1,150,000, this property reflects approximately $325 per rentable square foot and $287,500 per door, making it an attractive proposition for investors looking for immediate cash flow with significant upside potential in an up and coming Los Angeles location.

Listing Information

List Price $1,150,000
Status Active
MLS 24453333
Type Residential Income
Year Built 1910
Lot Size 4,202
Structure Size 3,540
DOM 35
Courtesy Of Lyon Stahl Investment Real Estate, Inc.
Listing Agent John McCann DRE#01963932

Interior Features

Laundry Information
Location(s) None
Total Bedroom
Bedrooms 4
Total Bathroom
Bathrooms 4

Exterior Information

Maps

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Listing information courtesy of: John McCann, Lyon Stahl Investment Real Estate, Inc. 310-382-1063. *Based on information from the Association of REALTORS/Multiple Listing as of Nov 19th, 2024 at 6:03 PM 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.