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2755 E 58th St

Huntington Park, CA 90255
  • $1,900,000
  • STATUS: Active
  • ON SITE: 309 Days
  • MLS #: 21-680040
UPDATED: 9 min ago
$1,900,000
  • 14
    BEDS
  • 0.15
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 5,864
    SQFT
  • $324
    $/SQFT

School Ratings & Info

Description

The property sits on 6,682 square feet of land and consists of five two-bedroom units and four one-bedroom units totaling 5,864 rentable square feet. A new owner will benefit from multiple enclosed garages providing space for eight vehicles or for additional storage. There is also potential to create an additional income stream via the currently unused laundry room located at the rear of the property. This offering is a true value-add opportunity with approximately 46% upside in rents. The average rent at 2755 E 58th Street is only $1,100 per unit while similar one-bedroom units in Huntington Park are averaging $1,550 per month and two-bedroom units are achieving $1,800 per month. With a proper renovation program, a savvy investor can realize the delta between current and market rents to dramatically improve income. The property is ideally situated approximately 4.5 miles from DTLA and among the 10, 5, 710, 105, and 110 Freeways.

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Based on information from the Combined LA/Westside Multiple Listing Service as of 2021-11-26T21:42:43.307. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
www.haciendagroupinc.com/homes/113441930
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2755 E 58th St Huntington Park, CA 90255

  • Price: $1,900,000
  • Status: Active
  • On Site: 309 Days
  • Updated: 9 min ago
  • MLS #: 21-680040
14
Beds
0
Baths
0
½ Baths
0.15
Acres
5,864
SQFT
$324
$/SQFT
1930
Built
Neighborhood:
Vernon, Maywood, Hunt Pk &Amp; Bell, N Of Florence, W Of 710
County:
Los Angeles
Area:
Vernon, Maywood, Hunt Pk &Amp; Bell, N Of Florence, W Of 710
Property Description
The property sits on 6,682 square feet of land and consists of five two-bedroom units and four one-bedroom units totaling 5,864 rentable square feet. A new owner will benefit from multiple enclosed garages providing space for eight vehicles or for additional storage. There is also potential to create an additional income stream via the currently unused laundry room located at the rear of the property. This offering is a true value-add opportunity with approximately 46% upside in rents. The average rent at 2755 E 58th Street is only $1,100 per unit while similar one-bedroom units in Huntington Park are averaging $1,550 per month and two-bedroom units are achieving $1,800 per month. With a proper renovation program, a savvy investor can realize the delta between current and market rents to dramatically improve income. The property is ideally situated approximately 4.5 miles from DTLA and among the 10, 5, 710, 105, and 110 Freeways.
Exterior Features

Lot Size Area 6682 Other Structures None Parking Garage Other Total Parking 8

Interior Features

Baths Total 9.00 Cooling Other Equipment Other Heating Other

Property Features

Assessed Total Value 480440 Gross Income 124200 Gross Operating Income 125544 Like Units1 4 Like Units2 5 Net Operating Income 76833.00 Number Of Buildings 1 Number Of Units 9 Sale Type Standard Source Living Area Estimated Source Lot Size Area Estimated Total Annual Expense 44985 Type Of Units Residential Year Built Source Vendor Enhanced Zoning Hpr3yy

Listing provided courtesy of Roderick 'Rick' Raymundo DRE#01357019 of Marcus & Millichap.


Based on information from the Combined LA/Westside Multiple Listing Service as of 2021-11-26T21:42:43.307. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
 
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Hacienda Agency Inc
77935 Calle Tampico # 201
La Quinta CA, 92253