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Sold for $1,250,000 on 01/22/25
  • Listing Provided by: 

    Vartan Achabahian DRE #01728975 vartan@prospectgroup.net,

    Prospect Group Inc.

    $1,250,000

    3025 Lanfranco St, Los Angeles, CA 90063

    --beds
    --baths
    2,819sqft
    Quadruplex
    Built in 1961
    -- sqft lot
    $1,228,500 Zestimate®
    $443/sqft
    $3,840 Estimated rent

    What's special

    We are pleased to present a rare investment opportunity situated on one of the most desirable streets in Boyle Heights. This property offers immediate income potential with three of its four units fully renovated and ready for occupancy at market rents. Key Features: Turnkey Investment: Generate immediate cash flow with three units already rented at market rates, currently producing a total monthly income of $8,440 ($101,280 annually). Desirable Location: Situated on a premier street in Boyle Heights, known for its strong rental demand and potential for appreciation. Modernized Units: Three units feature comprehensive renovations, including updated electrical and plumbing systems, new paint, windows, flooring, laundry connections, kitchen countertops and cabinets, and bathroom fixtures. Separate Metering: Individual gas and electricity meters for each unit ensure efficient utility management and cost recovery. Ample Parking: The property includes two separate buildings, each with a two-car garage, plus additional parking spaces, a valuable amenity in this urban location. ADU Potential: The existing two-car garage presents the opportunity for conversion into an Accessory Dwelling Unit (ADU), subject to local regulations, further enhancing the property's income potential. This property offers a compelling combination of current income, value-add potential, and a prime location. We invite you to schedule a private viewing to explore this exceptional investment opportunity further.

    Zillow last checked: 7 hours ago

    Listing updated: January 22, 2025 at 04:49pm

    Listing Provided by:

    Vartan Achabahian DRE #01728975 vartan@prospectgroup.net,

    Prospect Group Inc.

    Bought with:

    Carlos Cordova, DRE #02078665

    Pak Home Realty

    Source: CRMLS,MLS#: GD24237746MLS LogoOriginating MLS: California Regional MLS

    Facts & features

    Interior

    Heating
    • Ductless
    Cooling
    • Ductless
    Appliances
    • Laundry: Washer Hookup, Gas Dryer Hookup
    Features
    • Common walls with other units/homes: 1 Common Wall
    Interior area
    • Total structure area: 2,819
    • Total interior livable area: 2,819 sqft

    Property

    Parking
    • Total spaces: 2
    • Parking features: Garage
    • Garage spaces: 2
    Features
    • Levels: Two
    • Stories: 2
    • Entry location: 1
    • Pool features: None
    Lot
    • Size: 7,038 sqft
    • Features: 0-1 Unit/Acre
    Details
    • Parcel number: 5186002009
    • Zoning: LAR2
    • Special conditions: Standard

    Construction

    Type & style
    • Home type: MultiFamily
    • Property subtype: Quadruplex
    • Attached to another structure: Yes
    Condition
    • New construction: No
    • Year built: 1961

    Utilities & green energy

    • Sewer: Public Sewer
    • Water: Public

    Community & neighborhood

    Community
    • Community features: Biking, Dog Park, Sidewalks, Valley
    Location
    • Region: Los Angeles

    HOA & financial

    Other financial information
    • Total actual rent: 101280

    Other

    Other facts
    • Listing terms: Cash,Cash to New Loan,Conventional,FHA,VA Loan
    Services availability
    Get a cash offer in 3 minutes

    Find out how much your home could sell for in as little as 3 minutes with a no-obligation cash offer.

    Estimated market value

    $1,228,500

    Get a cash offer in 3 minutes

    Find out how much your home could sell for in as little as 3 minutes with a no-obligation cash offer.

    Estimated market value

    $1,228,500