1234 S Saltair Avenue Los Angeles, CA 90025
Rare investment opportunity for investors. This property is on the market for the first time after 32 years of ownership. The well-maintained 9-unit 2-story apartment with low operation costs is situated conveniently near 405 Fwy, I-10, UCLA, and Santa Monica Beach. This apartment has two entrances from the front gate and back gate very easy to access the building. The first floor consists of 4 units, and the second floor has 5 units with separate gas and power meters for each unit. The property is on an easy-to-access street; each unit provides a 2-car parking garage with private storage to keep personal belongings, and a community laundry room on the first floor. Also, this property has an extra bathroom and storage room for the owner to use when on duty. The 9-unit apartment consists of 2 units with 2 beds and 2 baths for each unit, 7 units have 1 bed and 1 bath for each unit. On May 1, 2024 rent increased by 4%, the total gross income estimated per month is $18,425.00. Rent Income Per Year $221,100.00, + laundry income $ 2,700 per year. Total $ 223,800.00 a year. Yearly expenses: Estimated is approximately total of $ 38,865.00 a year. ( $ 1,440.00 for gas in laundry, $ 500 for Frontier internet Intercom front door,$240.00 internet for security camera, $ 4,500.00 for trash, $3,340.00 for water and power in laundry room, $ 19,257.00 property tax, $ 9,588.00 Insurance). Tenant pay their own gas and power, landlord pay water.
- Property TypeMulti-Family
- NeighborhoodN/A
- CountyLos Angeles
- Taxes$0
- HOA/Condo/Coop Fees$0
- Days on Site214 Days
- MLS StatusActive
- MLS ID NumberSR23191846
- Home Size Source N/A
- Year BuiltN/A
- Lot Size0.1579 Acres
- Full BathsN/A
- Partial BathsN/A
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General Features
- Terms Cash
- Stories 2 Story
Interior Features
- Cooling Wall/Window
- Heating Natural Gas
Exterior Features
- Pool N/K
Community Features
- Spa N/K
- Security Features Gated Community