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2027 S Ridgeley Drive

Los Angeles (City), CA 90016
  • $2,250,000
  • STATUS: Active
  • ON SITE: 324 Days
  • ID#: TR21207392
UPDATED: 26 min ago
$2,250,000
  • 0
    BEDS
  • 0.22
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
Built:
1957
County:

School Ratings & Info

Listing Agent(s): Paulette Diaz of Alta Realty Group Ca (888-504-5327)


Description

This 8 unit property located near the corner of Washington and Ridgeley includes a mix of 1 bedroom and 2 bedroom rental units, three of which are Section 8 housing. It is central to many Los Angeles attractions: 8.9 miles to LAX, 4.3 miles to Beverly Hills, 3 miles to The Grove, and about half a mile to a big Target store. It is also within walking distance to the metro station on La Cienega.This property is a well-oiled working machine and has big income potential because of the location. The two bedroom units are renting for $1850 and the one bedroom units for $1450 with a rent increase of 3% every year. The property is paying for itself, nothing out pocket for the seller. The rental rates could be maximized - the seller was not able to maintain the yearly increase.The water heater was changed last year, 2020. The whole building was painted 5 years ago. In 2017, the roof was fixed for leaks, the roof of the carport was replaced, no major repairs.

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Based on information from California Regional Multiple Listing Service, Inc. as of 2022-08-12T23:33:20.937. 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 Cane Real Estate | Keller Williams La Jolla. Licensed in the State of California, USA.
www.canerealestate.com/homes/121653395
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2027 S Ridgeley Drive Los Angeles (City), CA 90016

  • Price: $2,250,000
  • Status: Active
  • On Site: 324 Days
  • Updated: 26 min ago
  • ID#: TR21207392
0
Beds
0
Baths
0
½ Baths
0.22
Acres
1957
Built
Neighborhood:
699 - Not Defined
County:
Los Angeles
Area:
699 - Not Defined
Property Description
This 8 unit property located near the corner of Washington and Ridgeley includes a mix of 1 bedroom and 2 bedroom rental units, three of which are Section 8 housing. It is central to many Los Angeles attractions: 8.9 miles to LAX, 4.3 miles to Beverly Hills, 3 miles to The Grove, and about half a mile to a big Target store. It is also within walking distance to the metro station on La Cienega.This property is a well-oiled working machine and has big income potential because of the location. The two bedroom units are renting for $1850 and the one bedroom units for $1450 with a rent increase of 3% every year. The property is paying for itself, nothing out pocket for the seller. The rental rates could be maximized - the seller was not able to maintain the yearly increase.The water heater was changed last year, 2020. The whole building was painted 5 years ago. In 2017, the roof was fixed for leaks, the roof of the carport was replaced, no major repairs.
Exterior Features

Carport Spaces 4 Carport YN Yes Lot Features 6-10 Units/AcreFront YardNear Public Transit Number Of Separate Electric Meters 8 Open Parking Spaces 4 Parking Features Carport Parking Total 8 Pool Features None Pool Private YN No Property Attached YN Yes

Interior Features

Common Walls 2+ Common Walls

Property Features

Additional Parcels YN No Common Interest None Community Features CurbsGutter(S)Street LightsSidewalks Electric Expense 0 Fuel Expense 1157 Garage YN No Gross Income 0 Gross Scheduled Income 112713 Insurance Expense 4195 Land Lease YN No Laundry Features Common Area Listing Agreement Exclusive Right To Sell Listing Service Full Service Listing Terms CashConventionalSubmit Maintenance Expense 5087 Net Operating Income 0 New Construction YN No Number Of Separate Gas Meters 1 Number Of Separate Water Meters 1 Number Of Units Leased 7 Operating Expense 0 Other Expense 4868 Rent Control YN Yes Senior Community YN No Sewer Public Sewer Special Listing Conditions Trust Trash Expense 5019 Water Sewer Expense 0 Water Source Public Zoning Lard1.5



Based on information from California Regional Multiple Listing Service, Inc. as of 2022-08-12T23:33:20.937. 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 Cane Real Estate | Keller Williams La Jolla. Licensed in the State of California, USA.
 
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Cane Real Estate | Keller Williams La Jolla
7817 Ivanhoe Avenue #101
La Jolla CA, 92037
Listing Agent(s): Paulette Diaz of Alta Realty Group Ca (888-504-5327)