3505 Marguerite Street

    Los Angeles (City), CA 90065
    • $800,000
    • STATUS: Active
    • ON SITE: 69 days
    • ID#: 19506760
    UPDATED: 172 min ago
    $800,000
    • 0
      BEDS
    • 0.23
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 2,597
      SQFT
    • $308
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1925
    County:

    School Ratings & Info

    Description

    3505 Marguerite Street consists of 2 legal units and 2 un-permitted non-conforming units occupied with rent controlled tenants. Built in 1925 the subject property is situated on a 9,810 square foot sloped parcel, zoned LARD2. Site located in an OPPORTUNITY ZONE. Frontage of parcel is 70ft. The compound consists of three separate structures: a front duplex, a middle bungalow, and a back house. Front house collects $1446 for the Bottom Unit and the Front Upstairs Unit is VACANT. Middle Bungalow collects $1500 and back house collects $1510. Front House and Back House are legal units with permits. Middle House and Front upstairs units are un-permitted non-conforming units. An investor has the potential to: 1) Bring this property back to legal Fourplex; 2) Demolish non-conforming units and run property as Duplex on Huge Lot; 3) Demolish all existing improvements and build 4 Small Lot Homes as an Opportunity Zone play.

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2019-11-13T00:30:08.51. 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 deemed reliable but is not guaranteed accurate by the MLS or The Houston Team | Compass CA DRE#01991628. Licensed in the State of California, USA.
    www.northsdrealty.com/homes/98641305

    3505 Marguerite Street Los Angeles (City), CA 90065

    • Price: $800,000
    • Status: Active
    • Updated: 172 min ago
    • ID#: 19506760
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.23
    Acres
    2,597
    SQFT
    $308
    $/SQFT
    1925
    Built
    Neighborhood:
    623 - Glassel Park
    County:
    Los Angeles
    Area:
    623 - Glassel Park
    Property Description
    3505 Marguerite Street consists of 2 legal units and 2 un-permitted non-conforming units occupied with rent controlled tenants. Built in 1925 the subject property is situated on a 9,810 square foot sloped parcel, zoned LARD2. Site located in an OPPORTUNITY ZONE. Frontage of parcel is 70ft. The compound consists of three separate structures: a front duplex, a middle bungalow, and a back house. Front house collects $1446 for the Bottom Unit and the Front Upstairs Unit is VACANT. Middle Bungalow collects $1500 and back house collects $1510. Front House and Back House are legal units with permits. Middle House and Front upstairs units are un-permitted non-conforming units. An investor has the potential to: 1) Bring this property back to legal Fourplex; 2) Demolish non-conforming units and run property as Duplex on Huge Lot; 3) Demolish all existing improvements and build 4 Small Lot Homes as an Opportunity Zone play.
    Exterior Features

    Lot Size Dimensions 70X150 Lot Size Source Assessor Lot Size Units Square Feet Parking Features Garage - Two Door Parking YN Yes

    Interior Features

    Cooling See Remarks Cooling YN Yes Laundry Features See Remarks

    Property Features

    Cap Rate 6.44 Gross Multiplier 10.33 Gross Operating Income 75148.00 Laundry YN Yes Net Operating Income 51555.00 Special Listing Conditions Standard Total Actual Rent 77472.00 Total Expenses 23593.00 Zoning Lard2

    Listing provided courtesy of Kenny Stevens of Compass


    Based on information from California Regional Multiple Listing Service, Inc. as of 2019-11-13T00:30:08.51. 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 deemed reliable but is not guaranteed accurate by the MLS or The Houston Team | Compass CA DRE#01991628. Licensed in the State of California, USA.
     
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    Carlsbad CA, 92009