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151 S Mountainview Avenue

Los Angeles, CA 90057

– beds
– baths
– sqft
6,388 sqft lot
1954 build
– on site

Amazing Current Cap Rate of 7.3% and 10 GRM with 43% upside to 11% Cap Rate and 7.2 GRM on proforma! Now offered with Higher Rents and 2 New Vacancies. Value-Add 10-unit building with 4 Fully renovated units with permits and 2 upcoming vacancies that can be renovated and leased for $2,407 per month (Previous rents were only $808). Priced at only $220k/door and $336/SF plus Fully Approved RTI plans to add 2 attached ADUs to improve the numbers to only 183k/unit, 10% Cap Rate, and 7.7 GRM on Current with upside to 14% Cap Rate and 5.8 GRM on Proforma after ADUs. All units are individually metered for Electricity and gas, and tenants pay for Trash. Rare 8 vacant single Car Garages for additional income and ADU potential. RTI plans to add 2 Attached ADUs in the garages will eliminate/reduce the soft-story scope of work and cost. Easy to rent unit mix consisting of 10 large (1 bed/1 bath) units. 4 units have been fully remodeled with permits and boast new modern cabinets, flooring, lighting, new bathrooms, and significant exterior improvements. This property is located in the historic Filipino Town just minutes away from Echo Park, Silverlake, DTLA as well as many hip neighborhood attractions, restaurants, bars, and shops such as Brooklyn Bagel Bakery, Boba Guys - Rideback Ranch, HiFi Kitchen, and Laveta Coffee, popping up all around the area.

Listed By CRMLS_CA / Armin Soleimani / Global Platinum Properties, Inc.

Last checked: Checking… • Last updated Nov 21, 2024 •

MLS# 24463489 —

The Building

Year Built:

1954
Year Built Source:

Assessor
New Construction:

No
Building Area Total:

6536.00
Total Number Of Units:

10
# of Buildings:

1
Stories Total:

2

Interior

Levels:

Two
Flooring:

Laminate

Location

Directions:

Between 1st and 2nd Street. The property is accessible from Alvardo or Mountain View Streets.
Latitude:

34.06512800
Longitude:

-118.27074400

The Property

Property Type:

Residential Income
Zoning:

LAC2
Lot Size Area:

6388.0000
Lot Size Acres:

0.1466
Lot Size SqFt:

6388.00
Lot Size Source:

Owner

Listing Agent

Contact info:

The Listing

Special Listing Conditions:

Standard
Parcel Number:

5154006009

Appliances

Appliances:

Refrigerator
Included:

Yes

The Community

Association:

No
Senior Community:

No
Assessments:

No

Parking

Parking Spaces:

8.00

Explore the Area

My Commute

From

Walk Score®

Provided by WalkScore® Inc.

Bike Score®

Provided by WalkScore® Inc.

Transit Score®

Provided by WalkScore® Inc.

Soundscore™

Provided by HowLoud

Sale history

Date	Event	Source	Price	% Change
11/13/24 Nov 13, 2024	Listed / Active	CRMLS_CA	$2,200,000

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This multifamily located in Central LA, Los Angeles, CA 90057 is currently for sale for $2,200,000. 151 S Mountainview Avenue is a – square foot multifamily with – beds and – baths that has been on Estately for 38 days. 151 S Mountainview Avenue is in the Central LA neighborhood of Los Angeles and has a WalkScore® of 91, making it a walker’s paradise. This multifamily is in the attendance area of Ramon C Cortines School Of Visual And Performing Arts, Miguel Contreras Learning Complex - Los Angeles School Of Global Studies, Miguel Contreras Learning Complex - Business And Tourism, Union Avenue Elementary School, Belmont Senior High School, Edward R. Roybal Learning Center, Sal Castro Middle School, Miguel Contreras Learning Complex - School Of Social Justice, and Miguel Contreras Learning Complex - Acdemic Ldrshp Community.

Listing Courtesy of: CRMLS_CA and Global Platinum Properties, Inc.. Based on information from California Regional Multiple Listing Service, Inc. as of 23:37 on Dec 21.

This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.