Los Angeles, CA 90033,1132 N Evergreen AVE
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Los Angeles, CA 90033,1132 N Evergreen AVE
Los Angeles, CA 90033,1132 N Evergreen AVE
Los Angeles, CA 90033,1132 N Evergreen AVE
Los Angeles, CA 90033,1132 N Evergreen AVE

$900,000

Est. payment /mo

$849,000

6.0%
Est.Price: ?

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1132 N Evergreen AVE Los Angeles, CA 90033

5 Beds

3 Baths

2,166 SqFt

SOLD DATE : 12/12/2024

Key Details

Sold Price $900,000

Property Type Multi-Family

Listing Status Sold

Purchase Type For Sale

Square Footage 2,166 sqft

Price per Sqft $415

MLS Listing ID 24452097

Sold Date 12/12/24

Bedrooms 5

HOA Y/N No

Year Built 1930

Lot Size 5,841 Sqft

Property Description

Finally, a multi-family that actually cash flows, even with today's interest rates! Not only that, but you have tenants in both the front unit and rear unit who are not likely to be there forever. They are young professionals who are upwardly mobile, so you should look forward to getting market rents on those units sooner than later. By the way, I have met all the tenants and they are all very affable and cooperative,which is a big plus. The middle vacant unit is waiting for your touch to make it into a high rent unit. If you look at photos 4 to 13, that is the rear unit, which used to look exactly like the middle unit, which you see in photos 14 to 22. As soon as you spend $50K, give or take, on the middle unit you will make it look exactly like the two bed rear unit. Section 8 will fetch you $3052/mo in rent. Even if you don't want to go the Section 8 route, you will get close to that rent even with conventional tenants. The front unit could stand some updating but is basically in good condition. If/when those tenants leave you will spend a minimal amount of money to make it into a much higher rent unit.Each unit has it's own garage and there is an additional parking spot just alongside the garages. Each unit has it's own laundry hook-ups as well. Also, importantly, you are buying from responsible owners who have taken care of the property, so it should stand up well to a licensed home inspection once you are in escrow. They love the property and are only selling it because they are close to retirement and do not want to be landlords anymore. According to owners, they have recently updated the plumbing and electrical in the rear unit. The roof is only 9 years old according to the owners and the foundation was retrofitted right around the same time, plus the sewer line from the structure to the street has been recently replaced with a new sewer line. Bottom line, you are acquiring a property that a) cash flows, b) has very good upside and c) will not be a 'money pit.' Basically, everything a real estate investor is looking for in a property. So, come and get it! Middle unit can be shown anytime.

Location

State CA

County Los Angeles

Area Boyh - Boyle Heights

Zoning LAR2

Interior

Heating Wall Furnace

Cooling None

Fireplace No

Appliance Refrigerator

Exterior

Parking Features Covered, Garage, Uncovered

Total Parking Spaces 4

Building

Story 1

Entry Level One

Level or Stories One

New Construction No

Others

Senior Community No

Tax ID 5229004008

Special Listing Condition Standard

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California Regional MLS (CRMLS)
Listed by Ken Shapiro • Silverwood Properties
Bought with Ken Shapiro • Silverwood Properties
agent

Jacqueline Screeton

Agent | License ID: 01858560

+1(949) 395-4732

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