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Elvida Salazar

elvida.myagent@gmail.com +1(760) 801-9758

$1,195,000

Est. payment - /mo

3 Beds

3 Baths

1,873 SqFt

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Open House

Sat Sep 12, 12:00pm - 2:00pm

Sun Sep 13, 12:00pm - 2:00pm

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Key Details

Property Type Single Family Home

Listing Status Active

Purchase Type For Sale

Square Footage 1,873 sqft

Price per Sqft $638

MLS Listing ID 26943911

Bedrooms 3

Construction Status Updated/Remodeled

HOA Y/N No

Year Built 1948

Lot Size 7,431 Sqft

Lot Dimensions Assessor

Property Description

A RARE, FULLY VACANT TWO-RESIDENCE INCOME PROPERTY WITH PROJECTED COMBINED RENT OF APPROXIMATELY $7,390 PER MONTH. No existing tenants, no existing leases, and no waiting for units to become available. The next owner can select tenants, establish rents, and put both residences to work immediately. Offered at $1,195,000 with projected annual gross income of approximately $88,680, the investment calculates to a 13.48 pro forma GRM and an estimated 5.2% pro forma cap rate based on projected rents and expenses. The property combines a substantially renovated 2-bedroom, 2-bath main residence with a permitted, NEW-CONSTRUCTION 1-bedroom, 1-bath ADU with private access and its own outdoor area. The main residence also features a former third bedroom with a closet, now configured as a flexible work, office, den, or podcasting space, an especially useful feature for today's work-from-home lifestyle. Major improvements include plumbing, electrical, HVAC, sewer to ADU, tankless water heater, pool finish, landscaping, gates, driveway, and more. Projected rents are approximately $4,895/month for the main residence and $2,495/month for the ADU. The seller may be willing to install utility submetering as negotiated with the buyer. Additional features include a private swimming pool, multiple outdoor areas, and off-street parking for up to three vehicles. For an investor, this is an opportunity to acquire two improved residences completely vacant and establish a rental program from a clean slate. For an eligible owner-occupant, the property may also offer the opportunity to live in one residence, rent the other, and explore low-down-payment FHA or VA financing, with qualifying ADU income potentially considered by the lender, subject to applicable program requirements. Projected rental income, NOI, GRM, and cap rate are pro forma estimates only and should be independently verified by the buyer and their agent.

Location

State CA

County Los Angeles

Area Lkbl - Lake Balboa

Zoning LAR1

Interior

Interior Features Ceiling Fan(s), Open Floorplan, Recessed Lighting, Utility Room

Heating Central, Electric, Wall Furnace

Cooling Central Air

Fireplaces Type None

Fireplace No

Appliance Dishwasher, Disposal, Microwave, Oven, Range

Exterior

Parking Features Driveway

Pool Fenced, Private

Community Features Gated

View Y/N Yes

Porch Covered, Front Porch, Open, Patio

Total Parking Spaces 3

Private Pool Yes

Building

Lot Description Back Yard, Lawn, Rectangular Lot

Faces West

Story 1

Entry Level One

Foundation Raised, Slab

Sewer Sewer Tap Paid

Architectural Style Modern

Level or Stories One

New Construction No

Construction Status Updated/Remodeled

Others

Senior Community No

Tax ID 2206017005

Security Features Carbon Monoxide Detector(s),Gated Community,Smoke Detector(s)

Acceptable Financing Cash, Conventional, FHA, VA Loan

Listing Terms Cash, Conventional, FHA, VA Loan

Financing Cash,Conventional,FHA,VA

Special Listing Condition Standard

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Listed by Roddy de la Garza Epique Realty #01995374

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Elvida Salazar

+1(760) 801-9758

Realtor® | Property Management Specialist License ID: DRE# 01775858

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7530 & 7532 Gaviota AVE Los Angeles, CA 91406

Elvida Salazar

Open House

Key Details

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Exterior

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