4168 Garthwaite Avenue, Leimert Park, CA 90008

$2,100,000
Sold Price
$2,100,000
List Price
$2,195,000
Closing Date
Oct 28, 2020
Status
CLOSED
MLS#
SB20148990
Year Built
1930
Lot Size
9,845
Acres
0.23
Lot Location
6-10 Units/Acre
Days on Market
16
Property Type
Multifamily

Property Description

Rarely does the opportunity arise to purchase a Spanish Revival Style Leimert Park apartment building. With over 8,000 of rental square feet, 4168 Garthwaite is the astute multifamily investors dream acquisition. The units are large, and nearly all have had some level of beautiful upgrades. From nearly every corner of the property, one can identify the charming architecture and tile work instilled in this asset. The current residents are each paying rents at respectable levels, yet the property boasts nearly 30%+/- of potential rental income upside for the new owner. The roof on the property is newer, and gas and electricity are individually metered, keeping utility costs low. There are a number of onsite secure parking spaces as well as onsite laundry available for tenant’s convenience. The property is located in the heart of dynamic Leimert Park. Tenants enjoy the ability to walk to shops, restaurants, and many other local amenities. And, in just a few more months, they will be able to take advantage of the brand new Leimert Park metro station. Apartment Investments like this one are few and far between. This owner has taken great care of the building and is ready for it to change hands to the next lucky owner.

Additional Information

Pool Description
None
Sewer
Public Sewer
Water
Public
Attached Structure
Attached
Number Of Units Total
9
Gross Scheduled Income
$160,200
Operating Expense
48294

Listing courtesy of Listing Agent: Josh Cohen (josh@cohengroupla.com) from Listing Office: Keller Williams Beach Cities.

Listing sold by Josh Cohen from Keller Williams Beach Cities

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Based on information from California Regional Multiple Listing Service, Inc. as of . This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.