Presenting a prime West Adams 4 unit property located at 3507 Edgehill Drive. The property has a good unit mix with a detached 3+1 House & a rear Triplex with three 1+1 Units with 2,406 total SF. All 4 units are tenant-occupied with a solid gross income of $4,975/mth; $59,700/yr currently with further rent upside to $6,000/mth; $72,000/yr as tenants vacate eventually. At our $795,000 price, the property is: $198,750/unit; a 13.32 current GRM; a 11.04 market GRM; a 4.77% current CAP; a 6.27% market CAP; and $330/sq. ft. The front home was built in 1926 & the rear triplex in 1960. The property sits on a good sized 5,900 SF lot zoned RD1.5. There are two garages & large multi-car rear parking landing so there's plenty of off-street parking for all tenants. There's also a rear patio area that could easily be transformed into a great BBQ area, and then there's a large rear shed that could be converted to a laundry room for additional income. This Edgehill property is tucked away on a beautiful primarily residential street. The property is conveniently located just east of Crenshaw Blvd; directly north of Expo Blvd; and just south of Jefferson Blvd. The property is also only a short 0.4 mile walk (8 minutes) from the Expo/Crenshaw metro train station with direct access from Downtown LA to Santa Monica. West Adams is a fantastic area with its central, mid-city location & ease of access to the Westside; Hollywood; DTLA; and a short drive to both the 10 & 110 Freeways.
Off market
$991,100
3507 Edgehill Dr, Los Angeles, CA 90018
--beds
0baths
2,406sqft
MultiFamily
Built in 1926
-- sqft lot
$991,100 Zestimate®
$412/sqft
$2,867 Estimated rent
What's special
Facts & features
Interior
Bedrooms & bathrooms
- Bathrooms: 0
Appliances
- Laundry: Gas Dryer Hookup, Washer Hookup
Features
- Common walls with other units/homes: 1 common wall
Interior area
- Total interior livable area: 2,406 sqft
Property
Parking
- Total spaces: 4
Lot
- Size: 5,898 sqft
- Features: 0-1 Unit/Acre
Details
- Parcel number: 5044007030
- Special conditions: Standard
Construction
Type & style
- Home type: MultiFamily
Condition
- Year built: 1926
Utilities & green energy
- Water: Public
Community & neighborhood
Location
- Region: Los Angeles
Other
Other facts
- CommonWalls: 1 common wall
- PropertyType: Residential Income
- SpecialListingConditions: Standard
- LotFeatures: 0-1 Unit/Acre
- PreviousStandardStatus: Active
- Heating: Wall Heater
- CommunityFeatures: Urban
- ParkingFeatures: Assigned
- LaundryFeatures: Gas Dryer Hookup, Washer Hookup
- MLSAreaMajor: PHHT - Park Hills Heights
- BuildingAreaUnits: Square Feet
- ElevationUnits: Feet
- LotSizeSource: Assessor
- WaterSource: Public
Services availability
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Estimated market value
$991,100