1514 S COCHRAN AVENUE, LOS ANGELES, CA 90019

  • 9,166 sqft
  • Lot Size: 12,330 sqft
  • Built in 1957
  • MLS #23269409
For Sale $3,150,000
  • share

Description

Huge 450k Price Reduction! Value-Add 12 Unit building with 4 Fully Renovated units (2 vacant) in the highly coveted Mid-City area priced at only 262k/door and $344/SF. Amazing Current Cap Rate of 5% and 13.8 GRM with an incredible 85% upside to 10.7% Cap Rate and 7.5 GRM on proforma. The property features a diverse unit mix consisting of 8 Large (1bed/1bath) and 4 (2bed/1bath) units. 4 of the units have been fully remodeled with permits and boast new modern cabinets, flooring, recessed lighting, new bathrooms, stainless steel appliances, and a washer/dryer inside. All units are Individually metered for gas & electricity. The 9,166 SF of improvements sits on a large 12,230 double lot with parking in the back. Preliminary plans to add 3 attached ADUs in Carport + 2 detached ADUs. Solid 85 walk score, easy access to public transit, and freeways, situated minutes from The Grove, Beverly Center, Cedars-Sinai as well as the upcoming UCLA hospital and other major developments. In addition to the solid fundamentals, the property offers a new owner over 85% in achievable income upside potential. This amazing 12-unit multi-family investment property has undergone major exterior improvements as well and has been well maintained and cared for with a stable income stream ready to be taken to the next level!

FACTS / FEATURES

  • Built in 1957
  • Lot Size: 12,330 sqft
  • Heating: Wall Furnace
  • Parking: 12 spaces total

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Listing Provided by Armin Soleimani, Global Platinum Properties, Inc.
Based on information from California Regional Multiple Listing Service, Inc. as of June 5, 2023. 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.