5150 Ithaca,Los Angeles, CA 90032
Los Angeles, CA 90032
Description
This turnkey four-unit income property presents an outstanding investment opportunity, featuring a beautifully remodeled Unit 2 with a modern, high-end aesthetic and a newly constructed ADU with its own private entrance. The spacious unit mix offers strong tenant appeal while providing excellent long-term income potential. Ideally located near Cal State LA and with convenient access to Downtown Los Angeles and other major employment and lifestyle destinations, the property benefits from consistent rental demand. With projected rental increases, investors have the opportunity to achieve an estimated 5.1% capitalization rate, making this an attractive option for both long-term investors seeking stable cash flow and owner-occupants looking to offset ownership costs with rental income. Current Rents (Total: $7,619.43/month) Unit 1: 3 Bed / 2 Bath - $1,609.81 Unit 2: 2 Bed / 2 Bath - $2,250 Unit 3: 2 Bed / 2 Bath - $1,259.62 Unit 4 (ADU): 2 Bed / 2 Bath - $2,500 Current Financials: Annual Net Income: $69,928.57 Net Operating Income (NOI): $69,928.57 Annual Operating Expense: $21,504.59 Gross Rent Multiplier (GRM): 14.76% Capitalization Rate (Cap Rate): 5.18%
Details
| MLS # | PW26156976 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Active |
| Year | 1988 |
| Days On Site | 57 |
| Listing Provided By | eXp Realty of Greater Los Angeles | Steven Gray |
Features
| SQ Feet | 3,250 |
|---|---|
| Garage | 2 |
| Story(s) | 2 |
| Units | 4 |
| Building(s) | 2 |
| Acreage | 0.11 |
| Property View | None |
Interior
| Cooling | Ductless |
|---|---|
| Heating | Combination, Ductless |
| Heating Yes / No | Yes |
| Cooling Yes / No | Yes |
| Appliances | Built In Range |
| Fireplace Yes / No | No |
Exterior
| Lot Features | Zero To One Unit Acre |
|---|
Parking
| Garage Yes / No | Yes |
|---|
Utilities
| Utilities | Electricity Connected, Natural Gas Connected, Phone Available, Sewer Connected, Water Connected |
|---|---|
| Electric | Standard |
| Sewer | Public Sewer |
Location
| Community Features | Street Lights, Sidewalks, Urban |
|---|
Area Information
| State | CA |
|---|---|
| County | Los Angeles |
| City | Los Angeles |
| Zip Code | 90032 |
| Area | 621 El Sereno |
| Listing VS Median (in 90032) | |
Price: $1,350,000 low | high Med: $777,000 sqft: 3,250 low | high Med: 801 $ / sqft: $415 low | high Med: $1,007 On site: 57 low | high Med: 391 | |
Market Activity 90032
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Learn More About This Property
| State | CA |
|---|---|
| County | Los Angeles |
| City | Los Angeles |
| Zip Code | 90032 |
| Area | 621 El Sereno |
| Listing VS Median (in 90032) | |
Price: $1,350,000 low | high Med: $777,000 sqft: 3,250 low | high Med: 801 $ / sqft: $415 low | high Med: $1,007 On site: 57 low | high Med: 391 | |
