8620 S Main ST new Save Request In-Person Tour Request Virtual Tour
Los Angeles,CA 90003
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 2,340 sqft
Price per Sqft $363
MLS Listing ID 25515771
Bedrooms 6
Year Built 2004
Lot Size 2,752 Sqft
Property Description
Rare duplex opportunity, with one vacant unit, substantial rental income, and no rent control.* The bottom unit will be delivered vacant, which is rare. Vacating a unit in LA can be nearly impossible, due to rent control laws and just-cause evictions. The potential monthly rent for the bottom unit is about $3,600. The upstairs unit will be delivered tenant-occupied with an approximate rent of $3,361. Total potential monthly rent for both units: $6,961. Rent exceeds mortgage payment by almost $2K, with 25% down.* The Gross Rent Multiplier is 10.2, significantly lower than the area average of about 16 (lower means more money). Both units have in-unit washer & dryer hookups and parking for two cars each. The bottom unit (in pictures) was partially remodeled, with brand-new floors, vanities, paint, lighting, and more. The top unit's finishes remain standard, not remodeled. Maintenance is low due to limited common area, good unit separation, newer construction, and newer building codes with safer materials. There are separate electrical and gas meters. Each unit has two parking spots, tandem. Duplex next door, 8624 Main St. "may" also be available for sale (off-market). Same owner as subject property. Buy both for a complete fourplex. *Prospective buyers are advised to verify all information, including financing terms and the non-rent control (RSO) status of the property. The property is sold as-is. Some photos are virtually staged.
Location
State CA
County Los Angeles
Area C37 - Metropolitan South
Zoning LAC2
Interior
Heating Wall Furnace
Cooling None
Laundry Laundry Closet
Exterior
Parking Features Driveway
Pool None
Community Features Gated
View Y/N No
View None
Roof Type Composition,Shingle
Building
Story 2
Foundation Slab
Sewer Other
New Construction No
Others
Acceptable Financing Cash,Conventional,FHA,Fannie Mae
Listing Terms Cash,Conventional,FHA,Fannie Mae
Special Listing Condition Standard