The LAAA Team of Marcus & Millichap is pleased to present this renovated 7 unit multifamily property located in East Los Angeles, an unincorporated area in Los Angeles County.

Built in 1949 and renovated in 2021, this 7-unit property sits on a large 7,447 square foot lot, and it is comprised of all 1 Bed / 1 Bath units. This offering is made up of 3 different buildings on one lot with a well maintained courtyard in between. Furthermore, the property has an alleyway behind and to the side of the property which leads to 7 parking spots behind the building (1 parking spot for each 1 Bedroom unit).

The sellers of this property as spent nearly $500,000 on renovating this property in the last 2.5 years. Most notably, they replaced all three roofs at the property, put in all new plumbing and electrical systems, renovated all common areas including installing an exterior fence around the property and cleaning up the common area courtyard, and they also fully renovated 5 of the 7 units.

This offering is the perfect property for section 8 tenants, where the majority of the rent would be paid for and guaranteed by the government. With the maximum allowable rents for section 8 tenants being increased in October 2021, each of these 1 Bed units can be rented for $1,764 per month. A savvy buyer who leases all of these units to section 8 tenants will be able to get this property's rental income up to $12,348 per month ($125k per year), nearly 20% more than is currently being collected.

With a strong walk score of 80, the property is ideally located one block south of Whittier Blvd, the main thoroughfare of East Los Angeles, which offers an array of restaurants, shopping, bars, groceries, and entertainment. Also, there are 16 different schools (elementary, middle, and high schools) within 1.3 miles of the property, making this an ideal family centric location.