This unique community features eight (8) charming 1-bedroom, 1-bath + den Spanish-style bungalows arranged around a serene courtyard on a spacious lot. Nestled on a quiet street just half a block from the iconic Christmas Tree Lane, the property is surrounded by mature trees and expansive grassy areas, creating a… Read More peaceful and inviting atmosphere. Over $540,000 has been invested in capital improvements, including upgrades to plumbing, roofing, and electrical systems all already completed. New ownership can subdivide the lot into three (3) separate parcels, allowing the opportunity to build eight (8) new ADUs across the site. These additions have the potential to generate approximately $386,400 in annual rental income. Upon ADU completion, the property can be stabilized at a 12.53% cap rate with a 6.71 GRM. Resident utility billing (RUBS) has been implemented to reduce operational costs, and the property is eligible for Mills Act designation, offering substantial potential property tax savings. Assumable financing available at 5.25%, with five years of interest-only payments remaining. Read Less
Property listed by Dover Management Corp., Douglas Steinriede 818-843-5200
Listing Snapshot
Days Online
15
Last Updated
Property Type
Other
Beds
8
Square Ft.
4,896
Lot Size
0.74 Acres
Year Built
1924
MLS Number
25556197
30 Days Snapshot Of 91001
$1.09M
-6%
(avg) sold price
15
+50%
homes sold
58
-1%
(avg) days on market
Snapshot
Area Map
Additional Details
Appliances & Equipment
Refrigerator, Dryer, Washer
Building
Built in 1924, Building area total: 4,896, Levels: One, Living area: 4896, 1 story, 5 buildings
Cooling
Dual
Heating
Combination
Income
Gross income: $304,465, Net operating income: $201,870
Lot
0.7409 acres, 32,272 square feet, Size: 32,272
Parking
13 totals parking, Garage
Property
Zoning: LCR110
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Based on information from California Regional Multiple Listing Service, Inc. as of and/or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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