Address not disclosed, Los Angeles, California, 90062
$1,975,000
Multi-family
The Montecito presents a rare investment opportunity that marries both a charming Spanish style front duplex with a newly developed and modern rear duplex comprised of two new spacious Townhome ADUs. This investment opportunity presents an ideal income property for either an owner-user or multi-generational family looking to live in one or both beautiful new ADU townhomes, or an astute investor looking to acquire a well-positioned asset with rental upside potential. Furthermore, Sellers are offering a 2-1 interest rate buy-down to qualified Buyers allowing for the potential to achieve a day 1 positive cash flow and the peace of mind that comes with securing an attractive and lower-than-market interest rate over the course of the next two years. This high-income producing 4-plex is comprised of 2 (3+2) units in a one-story building built in 1923, averaging 918 sq ft, and 2 (3+2) newly developed townhouse ADU units built in 2024 averaging 1,200 sq ft each. The combined building structure is 4,236 square feet. The structures sit on a 6,055 square foot lot, zoned LAR2. The two newly developed 3+2 Townhome ADUs have never been lived in but were previously approved for Section 8 for rental amounts of $4,000 each. Unit Improvement Summary includes: 3-Bedroom + 2-Bath Units: One of the front units has been highly improved with new countertops, wood like flooring and stainless steel appliances. Both units offer laundry rooms with washer/dryer hookups and individual hot water heaters. In 2016, the roof was replaced, and in 2024, ownership upgraded the electrical panels. 3-Bedroom + 2
Number of Units : 4
Zoning : Public Rec
Street Address: Address not disclosed
City: Los Angeles
State: California
Postal Code: 90062
County: Los Angeles
MLS Number: SR24126921
Courtesy of Equity Union
Courtesy of The Beverly Hills Estates
