1234 S Saltair Avenue Los Angeles, CA 90025
Listing Courtesy of: CRMLS / Century 21 Peak / Surin Poommai - Contact:  818-445-4220

  1234 S Saltair Avenue Los Angeles, CA 90025

Pending (280 Days)
$3,655,000

Description

Rare investment opportunity for investors. This property is on the market for the first time after 32 years of ownership. The well-maintained 9-unit 2-story apartment with low operation costs is situated conveniently near 405 Fwy, I-10, UCLA, and Santa Monica Beach. This apartment has two entrances from the front gate and back gate very easy to access the building. The first floor consists of 4 units, and the second floor has 5 units with separate gas and power meters for each unit. The property is on an easy-to-access street; each unit provides a 2-car parking garage with private storage to keep personal belongings, and a community laundry room on the first floor. Also, this property has an extra bathroom and storage room for the owner to use when on duty.

The 9-unit apartment consists of 2 units with 2 beds and 2 baths for each unit, 7 units have 1 bed and 1 bath for each unit. On May 1, 2024 rent increased by 4%, the total gross income estimated per month is $18,425.00. Rent Income Per Year $221,100.00, + laundry income $ 2,700 per year. Total $ 223,800.00 a year.

Yearly expenses: Estimated is approximately total of $ 38,865.00 a year. ( $ 1,440.00 for gas in laundry, $ 500 for Frontier internet Intercom front door,$240.00 internet for security camera, $ 4,500.00 for trash, $3,340.00 for water and power in laundry room, $ 19,257.00 property tax, $ 9,588.00 Insurance). Tenant pay their own gas and power, landlord pay water.

MLS #:
SR23191846
Lot Size
6,878 SQFT
Type
Multifamily
Year Built
1964
County
Los Angeles County

Listed By

Surin Poommai, DRE #01354205 CA, Century 21 Peak, Contact: 818-445-4220
Source
CRMLS
Last checked Jul 21 2024 at 7:00 AM GMT+0000
Bathroom Details
Interior Features
  • Unfurnished
  • Dishwasher
  • Storage
  • Bedroom on Main Level
  • Block Walls
  • Gas Oven
  • Laundry: Gas Dryer Hookup
  • Laundry: Common Area
  • Gas Range
  • Laundry: Electric Dryer Hookup
  • Electric Range
Lot Information
  • Level
  • 6-10 Units/Acre
Heating and Cooling
  • Wall Furnace
  • Natural Gas
  • Wall/Window Unit(s)
Flooring
  • Carpet
  • Tile
  • Laminate
Exterior Features
  • Roof: Other
Utility Information
  • Utilities: Water Source: Public, Natural Gas Connected, Electricity Connected, Water Connected, Natural Gas Available, Sewer Available, Phone Available, Sewer Connected, Water Available, Electricity Available
  • Sewer: Public Sewer
Parking
  • Assigned
Stories
  • 2
Additional Listing Info
  • Buyer Brokerage Commission: 2.000
Location
   
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Listing Price History

Date
Event
Price
% Change
$ (+/-)
Apr 11, 2024
Price Changed
$3,655,000
-6%
-230,000
Feb 06, 2024
Price Changed
$3,885,000
-3%
-102,000
Oct 13, 2023
Original Price
$3,987,000
-
-

Estimated Monthly Mortgage Payment

*Based on Fixed Interest Rate withe a 30 year term, principal and interest only

Listing price
Down payment
%
Interest rate
%
Mortgage calculator estimates are provided by CENTURY 21 Real Estate LLC and are intended for information use only. Your payments may be higher or lower and all loans are subject to credit approval.
Disclaimer: Based on information from California Regional Multiple Listing Service, Inc. as of 2/22/23 10:28 and /or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. The information being provided by Conejo Simi Moorpark Association of REALTORS® (“CSMAR”) is for the visitor's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. Any information relating to a property referenced on this web site comes from the Internet Data Exchange (“IDX”) program of CSMAR. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. Any information relating to a property, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable.