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$ 1,100,000
Est. payment | /mo
4 Beds
2,626 SqFt
$ 1,100,000
Est. payment | /mo
4 Beds
2,626 SqFt
Key Details
Property Type Other Types
Sub Type OTHER
Listing Status Active Under Contract
Purchase Type For Sale
Square Footage 2,626 sqft
Price per Sqft $418
MLS Listing ID CL24461519
Bedrooms 4
HOA Y/N No
Year Built 1931
Lot Size 1,889 Sqft
Acres 0.04
Property Description
Located at 3303 Hamilton Way in Los Angeles, CA 90026, this multifamily property offers a blend of stable income and value-add potential in a high-demand neighborhood. Built in 1931, the property comprises three units: one 2-bedroom, 1-bath unit, two 1-bedroom, 1-bath units, and one non-conforming studio. It totals 2,626 sq. ft. of rentable space on an 1,889 sq. ft.lot and is fully occupied on month-to-month leases, providing flexibility for future adjustments or redevelopment. The current gross monthly rent is $5,879, equating to $70,548 annually, with market rents estimated at $8,200 per month or $98,400 annually. This results in a current cap rate of 3.68% and a GRM of 15.59, aligning with area standards. At market rents, the potential cap rate rises to 6.32% with a GRM of 11.18. The property's net income is currently $40,442, with a projected increase to $69,506 at market rates, reflecting a significant upside. Priced at $1,100,000, the property's price per square foot is approximately $419 and $366,667 per door. The building also includes two single-car garages on the ground floor, with the potential for ADU conversion, adding an attractive value-add opportunity for investors.
Location
State CA
County Los Angeles
Area Listing
Zoning LAR2
Interior
Heating Wall Furnace
Fireplace No
Building
New Construction No
Others
Tax ID 5425003011
© 2024 BEAR, CCAR, bridgeMLS. This information is deemed reliable but not verified or guaranteed. This information is being provided by the Bay East MLS or Contra Costa MLS or bridgeMLS. The listings presented here may or may not be listed by the Broker/Agent operating this website.
Listed by John McCann • Lyon Stahl Investment Real Estate, Inc.
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Kenneth Jamaca
Managing Broker | REALTOR | License ID: 02080040
+1(925) 413-1849 | kenneth@jcastlegroup.com