4419 City Terrace Dr - Multi-Family FOR SALE


Los Angeles, CA 90063- East Los Angeles
$1,050,000 USD
626-321-7410
4419 City Terrace Dr, Los Angeles, CA for Sale
$1,050,000 USD
Multi-Family - FOR SALE
1/16
null | 4.73% Cap Rate

4419 City Terrace Dr
Los Angeles, CA 90063
East Los Angeles


HIGHLIGHTS

  • • Duplex Value-Add/Owner-Occupied Opportunity: Vacant 3Bdr 2Bath unit downstairs and occupied 2Bdr 1Bath upstairs.
  • • Additional Vacant Contiguous Parcel of Land: Sold together with a 5,449 SF parcel of land offering strong redevelopment or ADU potential.
  • • Individually Metered: Each unit is separately metered for gas and electricity, which is paid by the Tenant. Landlord pays water and trash.
  • • Generational Asset: First time on the market in over four decades

OVERVIEW

4419-23 City Terrace Drive is a unique opportunity to acquire a duplex plus a contiguous parcel of land together for sale in the City Terrace neighborhood (90063 zip code) of unincorporated Los Angeles County. It is well located on a spacious street in the hills of City Terrace. It is strategically located with convenient access to the 10 and 710 freeways. This is the first time the property is being offered for sale in over four decades. The duplex comprises a 3Bdr 2Bath unit downstairs and a 2Bdr 1Bath unit upstairs. The 3Bdr 2Bath unit downstairs is currently vacant. It has direct access to its 2-car garage, washer and dryer hookups, and patio. The 2Bdr 1Bath unit upstairs also has washer and dryer hookups and its own balcony. It has indirect access to its 1-car garage. Both units have access to an expansive backyard with fruit trees. There is a total of 3 garage parking spaces, which is rare for similar sales comparables in this submarket. The duplex has an estimated building square footage of 2,150 SF. It sits on a parcel of approximately 5,445 SF. The units are individually metered for gas & electricity, which the tenants pay. Landlord pays water and trash. The property is subject to unincorporated Los Angeles County Rent Stabilization and Tenant Protections Ordinance (RSTPO). Buyer to verify. The property is being sold together with a contiguous parcel of land (separate APN), which totals an estimated 5,449 SF. This offers a prospective Buyer with an excellent redevelopment or ADU opportunity. The current ownership notes that the duplex property may encroach onto the parcel of land by roughly one foot. A new water heater was installed in the upstairs unit in 2020 and a garage door opener for the double garage door in 2022. Although there have not been major recent capital improvements to the roof, electrical, or plumbing, the site is well maintained. 4419-23 City Terrace Drive is ideal for a Buyer seeking strong in-place rental income, value-add or owner-occupied potential via the vacant unit, and possible redevelopment potential with the contiguous vacant lot.

FOR SALE DETAILS

PRICE

$1,050,000 USD

PRICE/SF

$488 USD /SF

# OF UNITS

2

PRICE/UNIT

$525,000

CAP RATE

4.73%

% LEASED

50%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

4419-23 City Terrace Drive

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

ADD'L SUBTYPES

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1969

PARKING SPACES

3

LAND DETAILS

LAND ACRES

0.25 AC

LAND SF

10,894 SF

ZONING

R-2

APN/PARCEL ID

5225-009-025,5225-009-026

ASK ABOUT THIS PROPERTY

Andy ChanKW CommercialMore Info
626-321-7410

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Andy ChanKW CommercialMore Info
626-321-7410

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