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… Read More 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. Read Less
Courtesy of Lyon Stahl Investment Real Estate, Inc. 310-425-9838
Listing Snapshot
Days Online
86
Last Updated
Property Type
Other
Beds
4
Square Ft.
3,540
Lot Size
0.1 Acres
Year Built
1910
MLS Number
24-453333
30 Days Snapshot Of 90026
$1,569k
+23%
(avg) sold price
7
-41%
homes sold
63
+14%
(avg) days on market
Snapshot
Area Map
Additional Details
Appliances & Equipment
None
Building
3,540 sq ft, Built in 1910, Levels: Two
Cooling
Window Unit(s)
Disclosures
None
Garage
Driveway
Heating
Wall
Laundry
None
Lot
LotAcreage: 0.0965, LotSizeArea: 4,202
Parking
TotalParking: 0
Property
NumberOfUnits: 4, Zoning: LAR3
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