1719 Miramar Street
$1,150,000
4
4
3,540
3,540
$325
Description
1719 Miramar Street, located in the heart of Los Angeles, presents a clean investment opportunity with significant rental upside. This 4-unit building features a total of 3,540 sq. ft. of rentable space on a 4,200 sq. ft. lot, with a mix of large units two currently operating as 2-bedroom, 1-bathroom units, and two as 3-bedroom, 1-bathroom units. Tax records show all units are 1 bedroom / 1 bathroom. Originally built in 1910, the property has been well-maintained with recent termite tenting, a new...1719 Miramar Street, located in the heart of Los Angeles, presents a clean investment opportunity with significant rental upside. This 4-unit building features a total of 3,540 sq. ft. of rentable space on a 4,200 sq. ft. lot, with a mix of large units two currently operating as 2-bedroom, 1-bathroom units, and two as 3-bedroom, 1-bathroom units. Tax records show all units are 1 bedroom / 1 bathroom. Originally built in 1910, the property has been well-maintained with recent termite tenting, a new roof, copper plumbing, and an ABS main line. Each unit is individually metered, and the property offers ample parking at the rear. Currently generating $7,446 per month ($89,352 annually) with $60,899 in net income, the property has a 5.24% cap rate and a 12.87 GRM. With a 21% rental upside, the potential gross income could rise to $9,000 per month ($108,000 annually) with a net income of $79,322, boosting the cap rate to 6.84% and improving the GRM to 10.65. Priced at $1,150,000, this property reflects approximately $325 per rentable square foot and $287,500 per door, making it an attractive proposition for investors looking for immediate cash flow with significant upside potential in an up and coming Los Angeles location.
- Listed by John McCann • DRE #01963932 • Brokerage DRE #01399621 • Lyon Stahl Investment Real Estate, Inc.
Property Details for 1719 Miramar Street
Zoning
LAR3
Parcel Number5153002024
Total Units4.0
Living Area3540
Source Living AreaVendor Enhanced
AreaDowntown L.A. (C42)
Vacancy RateNone
Lot Size Area4202
LISTING UPDATED: 11/19/2024 09:51 AM
Property Details for 1719 Miramar Street
Status | Active |
---|---|
MLS # | 24-453333 |
Days on Market | 67 |
Taxes | - |
HOA Fees | - |
Condo/Co-op Fees | - |
Compass Type | Multi Family |
MLS Type | Residential Income |
Year Built | 1910 |
Lot Size | 0.10 AC / 4,202 SF |
County | Los Angeles County |
Building Information for 1719 Miramar Street
Stories2Residences-Year Built1910Building Size-Lot Size0.10 AC / 4,202 SF
Property Information for 1719 Miramar Street
Property History for 1719 Miramar Street
Date | Event & Source | Price | Appreciation |
---|
Date | Event & Source | Price |
---|
For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Public Records for 1719 Miramar Street
Taxable ValueLand$278,773Additions$242,532Total$521,305
Tax Record2024$6,744 ($562 / month)
Home Facts
Total Finished SqFt3,540 SqFtAbove Grade Finished SqFt3,540 SqFtLot Size4,200 SqFtStyleQuadraplexYear Built1910ZoningLAR3CountyLOS ANGELESAPN5153-002-024
Schools near 1719 Miramar Street
This home is within Los Angeles Unified School District.
Rating | School | Type | Grades | Distance |
---|---|---|---|---|
Public - | K to 5 | |||
Public - | 6 to 8 | |||
Public - | 9 to 12 | |||
Public - | 9 to 12 |
Rating | School | Distance |
---|---|---|
Union Avenue Elementary School PublicK to 5 | ||
Sal Castro Middle School Public6 to 8 | ||
Contreras Learning Center-School Of Social Justice Public9 to 12 | ||
Academic Leadership Community School Public9 to 12 |
School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.
Similar Homes
Sorry, we can't find any similar homes at this time. Please check back later.
Similar Sold Homes
Sorry, we can't find any similar sold homes at this time. Please check back later.