701 N Hill Place

    Los Angeles (City), CA 90012
    • $1,600,000
    • STATUS: Active
    • ON SITE: 17 days
    • ID#: 19496596
    UPDATED: 53 min ago
    $1,600,000
    • 0
      BEDS
    • 0.12
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 5,605
      SQFT
    • $285
      $/SQFT
    Type:
    Multi-Family
    Built:
    1974
    County:

    School Ratings & Info

    Description

    We are pleased to present 701 N Hill Pl, a five unit true value-add opportunity located in the fabled Chinatown submarket of Northeast Los Angeles. The first time on the market since being built 45-years ago, the property sits on a 5,118 square foot lot with attractive unit mixes of four two-bedroom units and one 4-bedroom true townhouse style unit. The submarket of Chinatown has been undergoing major proposed changes lately, causing a steady upward climb for rental demand in the area. Delivered with 3 vacant units, the incoming buyer is poised to take immediate advantage of all the major economic momentum around the subject property with their own vision of enhancements. Given the continued growth of the Chinatown submarket, the urban atmosphere surrounding the subject property, and the significant value-add opportunity, 701 North Hill Place represents a rare offering for investors seeking an asset that is poised to provide long-term returns and steady appreciation.

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2019-08-23T00:35:20.177. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Steele Canyon Realty. Licensed in the State of California, USA.
    www.steelecanyonrealty.com/homes/97615504

    701 N Hill Place Los Angeles (City), CA 90012

    • Price: $1,600,000
    • Status: Active
    • Updated: 53 min ago
    • ID#: 19496596
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.12
    Acres
    5,605
    SQFT
    $285
    $/SQFT
    1974
    Built
    County:
    Los Angeles
    Property Description
    We are pleased to present 701 N Hill Pl, a five unit true value-add opportunity located in the fabled Chinatown submarket of Northeast Los Angeles. The first time on the market since being built 45-years ago, the property sits on a 5,118 square foot lot with attractive unit mixes of four two-bedroom units and one 4-bedroom true townhouse style unit. The submarket of Chinatown has been undergoing major proposed changes lately, causing a steady upward climb for rental demand in the area. Delivered with 3 vacant units, the incoming buyer is poised to take immediate advantage of all the major economic momentum around the subject property with their own vision of enhancements. Given the continued growth of the Chinatown submarket, the urban atmosphere surrounding the subject property, and the significant value-add opportunity, 701 North Hill Place represents a rare offering for investors seeking an asset that is poised to provide long-term returns and steady appreciation.
    Exterior Features

    Lot Size Units Square Feet Parking Features GarageCovered Parking YN Yes

    Interior Features

    Laundry Features See Remarks

    Property Features

    Cap Rate 4.63 Gross Multiplier 14.04 Gross Operating Income 114000.00 Improvements Amount 178065 Land Value 53845 Laundry YN Yes Net Operating Income 74097.00 Special Listing Conditions Standard Total Expenses 36484.00 Zoning Lar4

    Listing provided courtesy of Tadeh Minnassian of Marcus & Millichap and Sevak Keshishian of Marcus & Millichap


    Based on information from California Regional Multiple Listing Service, Inc. as of 2019-08-23T00:35:20.177. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Steele Canyon Realty. Licensed in the State of California, USA.
     
    Steele Canyon Realty
    5923 Severin Drive
    La Mesa CA, 91942