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$ 1,100,000
Est. payment /mo
Active Under Contract
3303 Hamilton WAY Los Angeles, CA 90026
4 Beds
4 Baths
2,626 SqFt
UPDATED:
12/05/2024 05:31 AM
Key Details
Property Type Multi-Family
Listing Status Active Under Contract
Purchase Type For Sale
Square Footage 2,626 sqft
Price per Sqft $418
MLS Listing ID 24461519
Bedrooms 4
HOA Y/N No
Year Built 1931
Lot Size 1,890 Sqft
Property Description
Located at 3303 Hamilton Way in Los Angeles, CA 90026, this multifamily property offers a blend of stable income and value-add potential in a high-demand neighborhood. Built in 1931, the property comprises three units: one 2-bedroom, 1-bath unit, two 1-bedroom, 1-bath units, and one non-conforming studio. It totals 2,626 sq. ft. of rentable space on an 1,889 sq. ft.lot and is fully occupied on month-to-month leases, providing flexibility for future adjustments or redevelopment. The current gross monthly rent is $5,879, equating to $70,548 annually, with market rents estimated at $8,200 per month or $98,400 annually. This results in a current cap rate of 3.68% and a GRM of 15.59, aligning with area standards. At market rents, the potential cap rate rises to 6.32% with a GRM of 11.18. The property's net income is currently $40,442, with a projected increase to $69,506 at market rates, reflecting a significant upside. Priced at $1,100,000, the property's price per square foot is approximately $419 and $366,667 per door. The building also includes two single-car garages on the ground floor, with the potential for ADU conversion, adding an attractive value-add opportunity for investors.
Location
State CA
County Los Angeles
Area C21 - Silver Lake - Echo Park
Zoning LAR2
Interior
Heating Wall Furnace
Fireplace No
Exterior
Parking Features Garage
Attached Garage Yes
Building
Entry Level Multi/Split
Level or Stories Multi/Split
New Construction No
Others
Senior Community No
Tax ID 5425003011
Special Listing Condition Standard
Listed by John McCann • Lyon Stahl Investment Real Estate, Inc.
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