406 N Benton Way, Los Angeles, CA 90026 – 24-453967

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$1,275,000

Est. payment - /mo

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3 BD

4 BA

1,698 SqFt

Active Under Contract

406 N Benton Way Los Angeles, CA 90026

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Norma Mardelli

norma@mardellirealestate.com +1(818) 400-3794

UPDATED:

12/18/2024 05:23 PM

Key Details

Property Type Multi-Family

Sub Type Multi-Family

Listing Status Active Under Contract

Purchase Type For Sale

Square Footage 1,698 sqft

Price per Sqft $750

MLS Listing ID 24-453967

Style California Bungalow

Bedrooms 3

Year Built 1921

Lot Size 4,501 Sqft

Acres 0.1033

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 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.

Location

State CA

County Los Angeles

Area Silver Lake - Echo Park

Zoning LAR3

Rooms

Other Rooms None

Interior

Heating Central

Cooling Central

Equipment Built-Ins, Dishwasher, Refrigerator, Washer, Dryer, Range/Oven

Exterior

Parking Features Garage - 1 Car, Garage Is Detached, Private, Uncovered, Side By Side, Gated

Garage Spaces 4.0

View Y/N Yes

View City Lights, City, Skyline

Building

Story 1

Architectural Style California Bungalow

Level or Stories One

Schools

School District Los Angeles Unified

Others

Special Listing Condition Standard

The multiple listings information is provided by The MLSTM/CLAW from a copyrighted compilation of listings. The compilation of listings and each individual listing are ©2024 The MLSTM/CLAW. All Rights Reserved.

The information provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All properties are subject to prior sale or withdrawal. All information provided is deemed reliable but is not guaranteed accurate, and should be independently verified.

Listed by Sotheby's International Realty