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Los Angeles, CA 90063 3172 Fairmount Street

$799,888

Sold: May 07, 2024
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Presented By: Steven Pacheco with EXP REALTY OF CALIFORNIA INC; 9493064999
  • MLS# CV24048715
  • 03/11/2024
  • Request Tour
  • Request Info
  • FootageSQFT • 2,184

Home Details

Close to so many Hot spots in Los Angeles, this Fully Occupied Triplex with a Highly Desirable CAP RATE of 5.675% nests at the Top of a Hill with a view of Downtown Los Angeles and the Hollywood sign. West City Terrace/North Boyle Heights/below i10 freeway in a gem of a neighborhood. This INCOME INVESTMENT OFFERS 3 fully occupied units. There is a bonus unoccupied basement below the house that used to be a **4th Unit and can possibly be converted back to (4 UNITS). This **TWO ON A LOT** TRIPLEX ** generates a Gross Scheduled income of $59,400.00 and has a NOI (NET OPERATING INCOME) of $45,400.00 with expenses that include Water $2,100, Insurance $1,900, and New Taxes totaling( $10,000) = $14,000 EXPENSES ) BENEFITS of SECTION 8: Guaranteed Payments, Lower Vacancy Rates, Steady Income, Long-Term Stability. PAID ON TIME. 5 BED | 3 BATHS ON Title. 2 Beds in main house, 2, 1 bed 1 baths in duplex each unit has washer dryer hookup.
Presented By: Steven Pacheco with EXP REALTY OF CALIFORNIA INC; 9493064999

General for 3172 Fairmount Street

Additional Parcels Y/NNo
Architectural StyleModern, Spanish
Attached Garage No
Building Area UnitsSquareFeet
Buyer FinancingConventional
Cap Rate5.6
Carport Y/NNo
CityLos Angeles
Close Price825000.0
Community FeaturesCurbs, Sidewalks, Urban
ContingencyDo not disturb Tenants, Fully Occupied. Tenants are on Section 8.
CoolingCentralAir
CountyLos Angeles
Current FinancingNone
Days on Market10
DirectionsNear Ceaser E. Chavez Ave & Gage on the corner of Fairmont & N Fresno
Entry LocationFront
Garage Spaces0.0
Garage Y/NNo
Gross Income59400.0
HOA0.0
HOA / Comm AssnNo
HeatingWallFurnace
Home Warranty Y/NNo
Insurance Expense1900.0
Interior FeaturesAllBedroomsUp, AllBedroomsDown
Land Lease Y/NNo
Lease Considered Y/NNo
Lease Renewal Y/NNo
Listing TermsCash, Conventional, Contract, Item1031Exchange, FannieMae, OwnerMayCarry
Lot Size Square Feet4800.0
MLS AreaBOYH - Boyle Heights
MobileHomeRemainsYNNo
Net Operating Income45400.0
New ConstructionNo
Number of Units Leased3
Open Parking Spaces7.0
Operating Expense14000.0
Other StructuresTwoOnALot
Pool FeaturesNone
PossessionSeeRemarks
Private PoolNo
Property Attached Y/NYes
Property Sub Type AdditionalTriplex
Property SubTypeTriplex
Property TypeResidentialIncome
Rent Control Y/NYes
Senior Community Y/NNo
SewerPublicSewer
Special Listing ConditionsStandard
Standard StatusClosed
StatusClosed
Street NameFairmount
Tax Lot13
Taxes$10,000
Tenant PaysElectricity, Gas
Total Actual Rent4950.0
Total Units3
Trash Expense0.0
ViewCityLights, Hills
View Y/NYes
Water Sewer Expense2100.0
Waterfront Y/NNo
Year Built1953
Year Built SourcePublicRecords
ZoningLAR2

Interior for 3172 Fairmount Street

Air Conditioning Y/NYes
Basement (Y/N)Yes
BuyerOfficeEmailca.broker@exprealty.net
Common WallsItem1CommonWall, EndUnit, NoOneAbove
Electric On Property Y/NNo
Entry Level2
Fireplace FeaturesNone
Fireplace Y/NNo
FlooringCarpet
Heating Y/NYes
Laundry FeaturesWasherHookup, ElectricDryerHookup, GasDryerHookup
Street SuffixStreet
Total Stories2

Exterior for 3172 Fairmount Street

Building Area Total2184.0
Crops Included Y/NNo
Horse Y/NNo
Irrigation Water Rights Y/NNo
Lot FeaturesItem01UnitAcre
Lot Size Acres0.1102
Lot Size Area4800.0
Lot Size SourceAssessor
Lot Size UnitsSquareFeet
Number of Buildings2
Number of Separate Electric Meters3
Number of Separate Gas Meters3
Number of Separate Water Meters1
Open Parking Y/NNo
Parking FeaturesDriveway
Road Frontage TypeCityStreet
SpaNo
Total Parking7.0
Water SourcePublic

Additional Details

Price History

1527188455

First Team Client Services

Price $799,888
MLS#CV24048715
List Date 03/11/2024
Property Type Multi-Family
Phone 714.964.3311
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