11688 S CENTRAL Avenue, Los Angeles, CA 90059

About this property

Excellent investment opportunity for a stabilized four-unit 2003 constructed building in a transit-rich location. Los Angeles Section 8 Voucher payment standards have recently been increased to $2962 per month for 3 bedroom units. 6.27 cap conservative proforma and 6.92% cash on cash return conservative proforma with only a $300 per month/unit increase. Proforma numbers are right around the corner! This property is under statewide rent contol, not City nor County of Los Angeles rent control. You could be at proforma within 2-3 years. The building includes 2 parking spaces per unit and the additional lot that serves as the driveway from the back street. Plenty of room to build out a laundry area and perhaps even add an ADU in the current parking area.

Listing description from the March 2022 sale, as reported to CRMLS.

Sale history

$1,225,000

Sold March 2022 · on market January 2022 · MLS #22120829 · Source: CRMLS

Listing Agent: Melissa Barlow · Listing Office: Re/Max Execs · Contact: 310-378-9889 · Bought with: Koeun Hwang · Happy Haus Inc.

$915,000

Sold February 2019 · listed $899,000, orig. $949,000, on market November 2018 · MLS #SB18261225 · Source: CRMLS

Listing Agent: Ken Conant · Listing Office: Re/Max Estate Properties · Contact: 310-378-9889 · Bought with: Melissa Barlow · RE/MAX ESTATE PROPERTIES

$485,000

Sold January 2014 · listed $519,500, on market October 2013 · MLS #CV13215156 · Source: CRMLS

Listing Agent: VICTOR GUTIERREZ · Listing Office: NEWCASTLE INVESTMENTS, INC · Contact: 626-523-3606 · Bought with: Kyle Young · Golden State Property Group

Explore Los Angeles