406 N Benton Way

Los Angeles, CA 90026

$1,275,000

List Price

3

bed Beds

4

shower Baths

1,698 sqft

straighten / sqft

1921

calendar_month Built

Open Houses

Next available: Sunday, October 20th, 2024 1:00 pm - 4:00 pm

Save to Open House Schedule

calendar_month Tuesday, October 22nd, 2024

11:00 am - 2:00 pm • Save to Open House Schedule

Property Description

FULLY VACANT TRIPLEX at the crossroads of Silver Lake and Historic Filipino Town. A truly unique opportunity that will provide cashflow from day one, or a fantastic owner/user residence to sit back and enjoy while you build equity. Every unit of this 1920's craftsman has been updated and is ready for full market-rate rental income. Three one bedroom units feature new or newer appliances, expansive cabinet space, and updated baths with subway tile and quartz counters. Petite porches, separate entrances, and the ability for each unit to have its own designated outdoor space adds to the feeling of privacy. A large gated front yard could easily be divided for the individual use of both front units, while a large back patio with a centerpiece lemon tree has enough room for entertaining, lounging and developing your green thumb. Two of the units have direct access to the back patio, while one features a skyline view of downtown. Recently reconverted from a duplex back to a triplex, everything has been permitted and signed off on by the City, making this a worry-free investment property for the ages. A gated rear parking pad has room for three cars in addition to a one car garage that could be great for storage, or as value-add for one of the units. This property is a great addition to any portfolio, or an excellent way to dip your toe into the world of income property. Estimated 6% Cap Rate or 24% Cash over Cash Return (based on 25% down payment). Any way you slice it, this property pencils out.

Listing Information

List Price $1,275,000
Status Active
MLS 24453967
Type Residential Income
Year Built 1921
Lot Size 4,501
Structure Size 1,698
DOM 1
Courtesy Of Sotheby's International Realty
Listing Agent Elizabeth Daly DRE#02012985

Interior Features

Total Bedroom
Bedrooms 3
Total Bathroom
Bathrooms 4
Cooling Type
Cooling Type Central Air

Exterior Information

Maps

Listing information courtesy of: Elizabeth Daly, Sotheby's International Realty 213-440-4047. *Based on information from the Association of REALTORS/Multiple Listing as of Oct 18th, 2024 at 9:49 PM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.