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  • 115 E 31St St Los Angeles, 
  • Listing Price: $1,200,000 Sold Price: $1,295,000
    Beds: 7  |  Baths: 3
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    • MLS#: 21-100353
    • APN#: 5128-005-040
    • Status: Sold
    • Lot Size: 6283
    • Sq Ft: 3420
    • Beds: 7
    • Baths: 3
    • Style: N/A
    • Year Built: 1984
    • Subdivision:  
    • Roof: N/A
    • Spa: N/A
    • Tennis: N/A
    • Laundry: In Unit
    • Heat: Wall Gas
    • Air: None
    • Property Type: Income
    • Sale Type: Standard
    • Land Type: N/A
    • Lease Amount: N/A
    • Lease Exp: N/A
    • HOD: N/A
    • Area: Downtown L.A. 
    • City: Los Angeles
    • Zip code: 90011
    • Map: N/A
    • View: N/A
    • Waterfront: N/A
    • Sewer: N/A
    • Parking # 5
    • Security: N/A
    •    
    • Amenities: N/A
    • Pool:
    • Floor: N/A
    • Rooms: N/A
    • Fireplace: N/A
    • Parking: Gated

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Remarks Community Report
Fully remodeled and clean three-unit building, with ready to issue permits for a 4th ADU garage conversion. Built in 1984 which means this property does NOT fall under LA's rent stabilization ordinance and you can raise rent 5% a year + CPI, or over a 10% rental increase once COVID restrictions are lifted. Pro Forma 5.8% cap rate after ADU is complete. The front unit is a large (approx 1,200 sq ft) 3 bed/1 bath leased for $2,790. Unit B is a 2 bed/1 bath leased for $1,795, fully remodeled. Unit C is a remodeled 2 bed/1 bath currently rented for $1,790. On top of that, permits are ready to convert the garage into a legal studio/4th unit. RTI permits sold with property. All you need to do is pull the permits and start construction! All units remodeled with high-quality floors, appliances, and finishes. There on-site parking for each unit, and laundry inside each unit. Close to DTLA, USC, Fashion District, and lots of new development. This is one is a no-brainer! Owner is motivated, make all offers.
Seller's Agents
Buyer's Agents
Last Updated: 4/1/2022 12:34:24 PM
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