$1,150,000
3820 City Terrace DR Los Angeles, CA 90063
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$1,150,000
Est. payment /mo
4 Beds
4 Baths
2,440 SqFt
UPDATED:
09/30/2024 05:50 PM
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 2,440 sqft
Price per Sqft $471
MLS Listing ID 24436003
Bedrooms 4
HOA Y/N No
Year Built 1985
Lot Size 0.322 Acres
Property Description
We are pleased to present for sale 3820 City Terrace Drive, a charming 4-unit multifamily property built in 1985, situated on a large lot in the thriving City Terrace neighborhood of Los Angeles. With a 52.83% potential increase in rental income, this property is an appealing opportunity for investors. This well-maintained property features an ideal unit mix of two 1-bedroom/1-bath units and two 2-bedroom/1-bath units, totaling 2,440 square feet of living space. Situated on a spacious 14,027-square-foot lot, the property includes eight parking spaces, offering the potential for additional income through the addition of Accessory Dwelling Units (ADUs), buyer to verify. The property is separately metered for electricity and gas, helping the owner reduce utility costs. Investors will appreciate the strong tenant profile in this area, where approximately 75% of residents are renters, ensuring a consistent demand for housing. The property's strategic location, just 1.5 miles from LAC + USC Medical Center and Keck School of Medicine, and 2.3 miles from White Memorial Hospital, places it near a major employment hub, further bolstering its rental appeal. 3820 City Terrace Drive is a prime investment opportunity in a thriving market. With significant rent growth potential, the possibility of adding ADUs, and a location that promises strong and consistent demand, this property offers a solid foundation for potential returns. Investors seeking a blend of stability and growth in one of Los Angeles' vibrant neighborhoods will appreciate the strong potential this property offers.
Location
State CA
County Los Angeles
Area Ela - East Los Angeles
Zoning LCR3*
Interior
Fireplace No
Building
Story 2
Entry Level Two
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 5228002005
Special Listing Condition Standard
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Listed by Oscar Diaz • Marcus & Millichap
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Adrian Castillo
Principal/Realtor | CA DRE#01308935
Principal/Realtor CA DRE#01308935