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.… Read More 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. Read Less
Courtesy of Lyon Stahl Investment Real Estate, Inc. 310-425-9838
Listing Snapshot
Days Online
62
Last Updated
Property Type
Other
Beds
4
Square Ft.
2,626
Lot Size
0.04 Acres
Year Built
1931
MLS Number
24-461519
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
2,626 sq ft, Built in 1931, Levels: Multi/Split, Attached
Cooling
Window Unit(s)
Disclosures
None
Garage
Garage, Garage Is Attached
Heating
Wall
Lot
LotAcreage: 0.0428, LotSizeArea: 1,889
Parking
TotalParking: 0
Property
NumberOfUnits: 4, Zoning: LAR2, Balcony, High Ceilings (9 Feet+)
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