3538 E 56TH Street

    Maywood, CA 90270
    • $1,150,000
    • STATUS: Active
    • ON SITE: 42 days
    • ID#: 19507848
    UPDATED: 45 min ago
    $1,150,000
    • 0
      BEDS
    • 0.21
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 3,000
      SQFT
    • $383
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1953
    County:

    School Ratings & Info

    Description

    We are pleased to announce the sale of 3538 E 56th Street, a 5-unit non-rent controlled multifamily property in Maywood, CA, a strong rental market in Southeast Los Angeles. Current rents are approximately 18% below those of similar properties in the area, allowing a new owner to capitalize on potential income improvement while saving on otherwise costly deferred maintenance items, such as seismic retrofit repairs (Buyer to verify). The property features five individual garages, as well as six more open parking spaces, which may help an investor to collect a premium on rents for the one bedroom units.The buildings sit among a neighborhood of low density residential properties, but provide convenient access to the numerous industrial centers within the City of Vernon. This large employment hub helps to draw tenants to the area, where favorable vacancy rates trends have helped to provide some of the most positive rent growth in the entire Los Angeles Metro area.

    Monthly Payment Calculator



    Based on information from California Regional Multiple Listing Service, Inc. as of 2019-10-18T23:37:29.343. 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 deemed reliable but is not guaranteed accurate by the MLS or Allison James Estates and Homes. Licensed in the State of California, USA.
    www.teamforss.com/homes/98709308

    3538 E 56TH Street Maywood, CA 90270

    • Price: $1,150,000
    • Status: Active
    • Updated: 45 min ago
    • ID#: 19507848
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.21
    Acres
    3,000
    SQFT
    $383
    $/SQFT
    1953
    Built
    Neighborhood:
    T6 - Maywood, Bell
    County:
    Los Angeles
    Area:
    T6 - Maywood, Bell
    Property Description
    We are pleased to announce the sale of 3538 E 56th Street, a 5-unit non-rent controlled multifamily property in Maywood, CA, a strong rental market in Southeast Los Angeles. Current rents are approximately 18% below those of similar properties in the area, allowing a new owner to capitalize on potential income improvement while saving on otherwise costly deferred maintenance items, such as seismic retrofit repairs (Buyer to verify). The property features five individual garages, as well as six more open parking spaces, which may help an investor to collect a premium on rents for the one bedroom units.The buildings sit among a neighborhood of low density residential properties, but provide convenient access to the numerous industrial centers within the City of Vernon. This large employment hub helps to draw tenants to the area, where favorable vacancy rates trends have helped to provide some of the most positive rent growth in the entire Los Angeles Metro area.
    Exterior Features

    Lot Features Sprinklers None Lot Size Source Assessor Lot Size Units Square Feet Parking Features UncoveredGarage Parking YN Yes

    Interior Features

    Laundry Features See Remarks

    Property Features

    Cap Rate 3.54 Gross Multiplier 17.33 Gross Operating Income 66360.00 Improvements Amount 173160 Land Value 238095 Laundry YN Yes Net Operating Income 40761.00 Special Listing Conditions Standard Total Expenses 23619.00 Zoning Myr3yy

    Listing provided courtesy of Roderick 'Rick' Raymundo of Marcus & Millichap


    Based on information from California Regional Multiple Listing Service, Inc. as of 2019-10-18T23:37:29.343. 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 deemed reliable but is not guaranteed accurate by the MLS or Allison James Estates and Homes. Licensed in the State of California, USA.
     
    Allison James Estates and Homes
    31213 Temecula Parkway
    Temecula CA, 92592