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5920 Benner ST Los Angeles, CA 90042
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Key Details
Sold Price $1,420,000
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Square Footage 3,224 sqft
Price per Sqft $440
MLS Listing ID 24358619
Sold Date 03/29/24
Bedrooms 8
Construction Status Updated/Remodeled
HOA Y/N No
Year Built 1948
Lot Size 5,601 Sqft
Property Description
Rare opportunity to buy a turnkey 4plex in hip Highland Park that cash flows! 5.57% CAP Rate and 13.97 GRM on Current Rents! All apartments function as 2 bedroom and 1 bathroom and are fully remodeled inside with modern finishes such as trendy black hardware, butcher block countertops, white cabinets in kitchens and bathrooms, unique light fixtures, recessed lighting in living rooms, laminate wood flooring, and much more. The spacious units average 806 SF each per title. Two units have bonus rooms that would be a perfect office, making this highly conducive to tenants who work from home. Great tenants, well managed, and rents average $2,166/month per unit, making this an excellent investment in a stellar location. All units have only 1 or 2 tenants each, there are no long term tenants, and these units generally turn over every few years. The property is easy to manage, has low expenses, partial copper plumbing, and a good roof. There is a front yard area with communal lounge furniture, garden plots and BBQ grill where tenants can keep plants, hang out, and feel at home. The property is located just south of Figueroa on a quiet street near the 110 Freeway. It is walkable to all the hotspots on Figueroa, as well as nearby parks, the Metro Gold Line, and so much more. The median single family home price in Highland Park is now $1,138,000, making this an extremely high barrier to entry area and extremely popular among high earning renters.
Location
State CA
County Los Angeles
Area 632 - Highland Park
Zoning LARD1.5
Interior
Interior Features Ceiling Fan(s)
Heating Wall Furnace
Cooling Wall/Window Unit(s)
Flooring Laminate
Fireplaces Type None
Fireplace No
Appliance Disposal, Gas Oven, Microwave, Refrigerator
Laundry None
Exterior
Parking Features Garage, Tandem, Uncovered
Pool None
View Y/N No
View None
Roof Type Composition,Shingle
Accessibility None
Porch None
Total Parking Spaces 8
Private Pool No
Building
Story 2
Entry Level Two
Foundation Raised
Level or Stories Two
New Construction No
Construction Status Updated/Remodeled
Schools
School District Los Angeles Unified
Others
Senior Community No
Tax ID 5492019006
Security Features Carbon Monoxide Detector(s),Smoke Detector(s)
Special Listing Condition Standard
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Bought with Roni Raczkowski • Roni Raczkowski Real Estate