115 E 31st St., Los Angeles, CA 90011

$1,295,000.00
Sold
115 E 31st St, Los Angeles, CA 90011, USA
115 E 31st St_Sale Property ID
1,200 SqFt Size
115 E 31st St., Los Angeles, CA 90011
115 E 31st St., Los Angeles, CA 90011
115 E 31st St., Los Angeles, CA 90011
115 E 31st St., Los Angeles, CA 90011
115 E 31st St., Los Angeles, CA 90011
115 E 31st St., Los Angeles, CA 90011
115 E 31st St., Los Angeles, CA 90011
115 E 31st St., Los Angeles, CA 90011
115 E 31st St., Los Angeles, CA 90011
115 E 31st St., Los Angeles, CA 90011
115 E 31st St., Los Angeles, CA 90011
115 E 31st St., Los Angeles, CA 90011
115 E 31st St., Los Angeles, CA 90011
115 E 31st St., Los Angeles, CA 90011
115 E 31st St., Los Angeles, CA 90011
115 E 31st St., Los Angeles, CA 90011
115 E 31st St., Los Angeles, CA 90011
115 E 31st St., Los Angeles, CA 90011
115 E 31st St., Los Angeles, CA 90011
115 E 31st St., Los Angeles, CA 90011
115 E 31st St., Los Angeles, CA 90011
115 E 31st St., Los Angeles, CA 90011
115 E 31st St., Los Angeles, CA 90011
115 E 31st St., Los Angeles, CA 90011
115 E 31st St., Los Angeles, CA 90011
115 E 31st St., Los Angeles, CA 90011
115 E 31st St., Los Angeles, CA 90011
115 E 31st St., Los Angeles, CA 90011
115 E 31st St., Los Angeles, CA 90011
115 E 31st St., Los Angeles, CA 90011
115 E 31st St., Los Angeles, CA 90011
115 E 31st St., Los Angeles, CA 90011
115 E 31st St., Los Angeles, CA 90011
115 E 31st St., Los Angeles, CA 90011

Description

Fully remodeled and clean three-unit building, with ready to issue permits for a 4th ADU garage conversion. Built in 1984 which means this property does NOT fall under LA’s rent stabilization ordinance and you can raise rent 5% a year + CPI, or over a 10% rental increase once COVID restrictions are lifted.  Pro Forma 5.8% cap rate after ADU is complete.  The front unit is a large (approx 1,200 sq ft) 3 bed/1 bath leased for $2,790. Unit B is a 2 bed/1 bath leased for $1,795, fully remodeled. Unit C is a remodeled 2 bed/1 bath currently rented for $1,790. On top of that, permits are ready to convert the garage into a legal studio/4th unit. RTI permits sold with property. All you need to do is pull the permits and start construction! All units remodeled with high-quality floors, appliances, and finishes. There on-site parking for each unit, and laundry inside each unit. Close to DTLA, USC, Fashion District, and lots of new development. This is one is a no-brainer! Owner is motivated, make all offers!

Address

  • Address 115 E 31st St., Los Angeles, CA 90011
  • Country United States
  • Postal code/ZIP 90011
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Overview

  • Property ID 115 E 31st St_Sale
  • Price $1,295,000.00
  • Property Type
  • Property status
  • Year Built 1984
  • Size 1,200 SqFt

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Contact

Oron Maher

Oron Maher

Property Agent

275 S Beverly Dr, Beverly Hills, CA 90212, USA
(310) 464-1453
MaherCR.com

Oron Maher is a leading commercial real estate veteran and the founder of Maher Commercial Realty, a Beverly Hills-based brokerage specializing in investment sales and leasing transactions across all property types within the Greater Los Angeles Area. With nearly two decades of experience representing high-profile buyers and sellers in the region, including major institutions and REITS, private family offices and individual investors, Oron has arranged over a billion dollars in transactions throughout his career and brings a wealth of knowledge, expertise and an unmatched level of client service to the Greater L.A. market. Oron Maher’s firm’s approach includes a customized approach to each opportunity in order to highlight its unique value, leading to record-breaking sales and long-term client relationships. Prior to launching his firm, Oron served as a broker and national sales leader for BRC Advisors. Prior to that, he spent nine years at Coldwell Banker Commercial, where he oversaw a team ranked in the top one percent of commercial brokers in the nation within the Coldwell network. Oron’s extensive experience as a former real estate attorney, investor, developer and community leader has fortified his work in building a successful brokerage in Los Angeles. Oron Maher holds a bachelor’s degree in business management from California State University, Long Beach and a juris doctorate from the San Francisco Law School. Oron’s entrepreneurial approach to Maher Commercial Realty blends his deep knowledge of the industry with a versatile skillset to secure optimal results across the board. An active community member, Oron has served on more than two dozen non-profit and for-profit boards and chaired the real estate section of the Beverly Hills Bar Association. His passion for giving back and empowering young adults and aspiring businesspeople through mentorship, networking and education led Oron to co-create The Maher Foundation, a nine-month fellowship program which provides development opportunities to recent graduates. BRE#01299093

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