3025 Lanfranco Street
Closed 1/22/25
Closed 1/22/25
Description
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,...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.
- Listed by Vartan Achabahian • DRE #01728975 • Brokerage DRE #01885471 • Prospect Group Inc. • vartan@prospectgroup.net
Property Details for 3025 Lanfranco Street
Property Details for 3025 Lanfranco Street
| Status | Closed |
|---|---|
| MLS # | GD24237746 |
| Days on Market | 15 |
| Taxes | - |
| HOA Fees | - |
| Condo/Co-op Fees | - |
| Compass Type | Multi Family |
| MLS Type | Residential Income |
| Year Built | 1961 |
| Lot Size | 0.16 AC / 7,038 SF |
| County | Los Angeles County |
Building Information for 3025 Lanfranco Street
Property Information for 3025 Lanfranco Street
- Tenant Pays: Electricity, Gas
- Gross Income: $101,280
- Gross Scheduled Income: $101,280
- Gross Operating Income: $101,280
- Net Operating Income: $66,280
- Number Of Rented Garages: 2
- Financing: Conventional
- Operating Expense: $35,000
- Fuel Expense: $0
- Electric Expense: $0
- Insurance Expense: $2,575
- Trash Expense: $0
- Water Sewer Expense: $250
- Total Expenses: $2,825
- Tax Block: B
- Tax Tract Number: 4
- Tax Census Tract: 2041.20
- CFD/Mello-Roos Fee: $556
- Tax Lot: 5
- Community Features: Biking, Dog Park, Sidewalks, Valley
- Laundry: Yes
- Laundry Features: Gas Dryer Hookup, Washer Hookup
- Cooling: Ductless
- Heating: Ductless
- Entry Location: 1
- Pool Features: None
- Pool: N/K
- Lot Features: 0-1 Unit/Acre
- Land Lease: No
- Levels: Two
- Sewer: Public Sewer
- Water Source: Public
- Garage Spaces: 2
- Unit Type Units Total: 1
- Unit Type Beds Total: 1
- Unit Type Baths Total: 1
- Unit Type Furnished: Unfurnished
- Unit Type Garage Spaces: 0
- Unit Type Actual Rent: $2,096
- Unit Type Total Rent: $2,096
- Unit Type Pro Forma: 2096
- Unit Type Type: 1
- Unit Type Units Total: 1
- Unit Type Beds Total: 2
- Unit Type Baths Total: 1
- Unit Type Furnished: Unfurnished
- Unit Type Garage Spaces: 0
- Unit Type Actual Rent: $2,250
- Unit Type Total Rent: $2,250
- Unit Type Pro Forma: 2250
- Unit Type Type: 2
- Unit Type Units Total: 1
- Unit Type Beds Total: 3
- Unit Type Baths Total: 1
- Unit Type Furnished: Unfurnished
- Unit Type Garage Spaces: 2
- Unit Type Garage Attached: Yes
- Unit Type Actual Rent: $3,465
- Unit Type Total Rent: $3,465
- Unit Type Pro Forma: 3465
- Unit Type Type: 3
- Unit Type Units Total: 1
- Unit Type Beds Total: 1
- Unit Type Baths Total: 1
- Unit Type Furnished: Unfurnished
- Unit Type Garage Spaces: 0
- Unit Type Actual Rent: $629
- Unit Type Total Rent: $2,096
- Unit Type Pro Forma: 2096
- Unit Type Type: 4
- Number Of Units Leased: 4
- Rent Controlled: Yes
- Number Of Buildings: 2
- Number Of Separate Electric Meters: 5
- Number Of Separate Gas Meters: 4
- Number Of Separate Water Meters: 1
- Number Wall AC: 3
Property History for 3025 Lanfranco Street
| Date | Event & Source | Price | Appreciation |
|---|
| Date | Event & Source | Price |
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For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Public Records for 3025 Lanfranco Street
Schools near 3025 Lanfranco Street
Rating | School | Type | Grades | Distance |
|---|---|---|---|---|
| Public - | K to 5 | |||
| Charter - | 5 to 8 | |||
| Public - | 9 to 12 | |||
| Public - | 9 to 12 |
Rating | School | Distance |
|---|---|---|
Euclid Avenue Elementary School PublicK to 5 | ||
KIPP Los Angeles College Preparatory School Charter5 to 8 | ||
Theodore Roosevelt Senior High Public9 to 12 | ||
Felicitas And Gonzalo Mendez High 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.
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Listing Courtesy of Prospect Group Inc., Vartan Achabahian, DRE #01728975
Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.