23
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$4,950,000
Est. payment /mo
10,499 SqFt
Active
5531 La Mirada Avenue Los Angeles, CA 90038
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Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 10,499 sqft
Price per Sqft $471
MLS Listing ID CL25523905
HOA Y/N No
Year Built 2018
Lot Size 5,873 Sqft
Acres 0.13
Property Sub-Type Other
Property Description
This is a rare opportunity to own an 11-unit apartment building in a highly desirable and private cul-de-sac just minutes from the 101 freeway. With a high occupancy rate and strong rental history, this property offers both immediate cash flow and long term growth potential. Located in a sought-after area with easy access to major shopping, dining and entertainment, it's perfectly positioned to attract and retain quality tenants. With no rent control in place, there's a significant value add opportunity for a 7% rent increase, allowing investors to quickly enhance cash flow. Currently, the landlord covers the water expense, but that cost can be passed on to tenants to further increase net operating income. This is a low-maintenance asset as there's no elevator, minimal common area upkeep and low power usage, making it ideal for owners looking for low operational costs. This property offers reliable income, and clear value-add potential, making it an exceptional opportunity for both new and seasoned investors. Don't miss your chance to acquire a well-positioned, income-generating building with real upside in one of the most convenient neighborhoods. Schedule a private showing today!
Location
State CA
County Los Angeles
Zoning LAR3
Interior
Heating Other
Cooling Central Air
Flooring Wood
Fireplace No
Appliance Dryer
Laundry Dryer, Washer
Building
New Construction No
Others
Tax ID 5536003018
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Listed by Christian Crane • Nest Seekers