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Rick Lee

rickjleehomes@gmail.com +1(714) 943-1598

$ 749,000

Est. payment -/mo

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Active

4166 Wadsworth AVE Los Angeles, CA 90011

3 Beds

3 Baths

1,557 SqFt

UPDATED:

10/02/2024 06:30 PM

Key Details

Property Type Multi-Family

Listing Status Active

Purchase Type For Sale

Square Footage 1,557 sqft

Price per Sqft $481

MLS Listing ID 23338163

Bedrooms 3

Construction Status Repairs Cosmetic,Updated/Remodeled

HOA Y/N No

Year Built 1904

Lot Size 6,250 Sqft

Property Description

Welcome to the TWIN PALMS TRIPLEX near the Historic Central Ave District! AMAZING investment opportunity to own a charming, corner-lot property with tremendous upside income potential. Live in one unit and rent out the other two to pay your mortgage! Classic details and sunlit spaces highlight this turn-of-the-century Craftsman property which boasts many updates - NEW paint, ceiling fans, laminate flooring, recessed lighting, double pane windows, new landscaping for Unit #1 and updated Kitchens and Baths. The Main House has two (2) units with covered porches - UNIT #1 is a 1BR/1BA plus a BONUS DEN (est. 628SF +/-) and UNIT #2 is a Studio with 1BA (est. 628SF +/-) and has its own laundry. The detached Studio Garage Unit #3 with 1 BA is est. 300SF +/-. There are 3 Electric meters / 3 Gas meters / 1 Water meter. The XL Backyard is fully-fenced with mature, enveloping trees and currently used for ample parking. Unit #1 has its own separate yard spaces with a new DG covering, landscaping and a thriving Banana tree. Tons of potential to create separate yard spaces for the other two units, dedicated parking spaces and/or a large, landscaped patio. The beautiful, mature twin palms in the front yard are some of the tallest palms in the area and can be seen for miles swaying in the LA skyline. The area has a vibrant cultural, social and entertainment history and is home to the yearly famed Central Ave Jazz festival. Centrally located near restaurants, shopping, major freeways, USC, DTLA and public transportation. Units are currently or will be vacant at the close of escrow so you can set the rent to the current market value. If you're looking for a smart investment opportunity with a good Cap Rate of 6.9%, then this is your perfect chance.

Location

State CA

County Los Angeles

Area C42 - Downtown L.A.

Zoning LAR2

Rooms

Ensuite Laundry See Remarks

Interior

Interior Features Ceiling Fan(s)

Laundry Location See Remarks

Heating Wall Furnace

Fireplaces Type None

Inclusions Rolling island and appliances in Unit #1. Portable A/C, microwave, and fridge in Unit #3 garage unit. Unit #2 - stove and dishwasher only.

Fireplace No

Appliance Microwave, Range, Refrigerator

Laundry See Remarks

Exterior

Garage Gated, Oversized, RV Potential, Side By Side, Uncovered

Community Features Gated

View Y/N No

View None

Parking Type Gated, Oversized, RV Potential, Side By Side, Uncovered

Total Parking Spaces 4

Building

Lot Description Front Yard

Faces South

Story 1

Entry Level One

Sewer Other

Architectural Style Craftsman

Level or Stories One

New Construction No

Construction Status Repairs Cosmetic,Updated/Remodeled

Others

Senior Community No

Tax ID 5115022029

Security Features Gated Community

Financing Conventional

Special Listing Condition Standard

Listed by Simone Poingsett • Coldwell Banker Realty

Rick Lee

Team Leader | License ID: 02130981

+1(714) 943-1598

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Rick Lee

Rick Lee

4166 Wadsworth AVE Los Angeles, CA 90011

Key Details

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Rooms

Interior

Exterior

Building

Others

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4166 Wadsworth AVE