406 N Benton WAY Save Request In-Person Tour Request Virtual Tour
Los Angeles,CA 90026
Key Details
Property Type Multi-Family
Listing Status Active Under Contract
Purchase Type For Sale
Square Footage 1,698 sqft
Price per Sqft $750
MLS Listing ID 24453967
Bedrooms 3
Year Built 1921
Lot Size 4,499 Sqft
Property Description
FULLY VACANT TRIPLEX at the crossroads of Silver Lake and Historic Filipino Town. A truly unique opportunity that will provide cashflow from day one, or a fantastic owner/user residence to sit back and enjoy while you build equity. Every unit of this 1920's craftsman has been updated and is ready for full market-rate rental income. Three one bedroom units feature new or newer appliances, expansive cabinet space, and updated baths with subway tile and quartz counters. Petite porches, separate entrances, and the ability for each unit to have its own designated outdoor space adds to the feeling of privacy. A large gated front yard could easily be divided for the individual use of both front units, while a large back patio with a centerpiece lemon tree has enough room for entertaining, lounging and developing your green thumb. Two of the units have direct access to the back patio, while one features a skyline view of downtown. Recently reconverted from a duplex back to a triplex, everything has been permitted and signed off on by the City, making this a worry-free investment property for the ages. A gated rear parking pad has room for three cars in addition to a one car garage that could be great for storage, or as value-add for one of the units. This property is a great addition to any portfolio, or an excellent way to dip your toe into the world of income property. Estimated 6% Cap Rate or 24% Cash over Cash Return (based on 25% down payment). Any way you slice it, this property pencils out.
Location
State CA
County Los Angeles
Area C21 - Silver Lake - Echo Park
Zoning LAR3
Interior
Heating Central
Cooling Central Air
Exterior
Garage Door-Single,Garage,Gated,Private,Side By Side,Uncovered
Garage Spaces 1.0
Garage Description 1.0
View Y/N Yes
View City Lights
Building
Story 1
New Construction No
Schools
School District Los Angeles Unified
Others
Special Listing Condition Standard