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    220 S Catalina St

    Los Angeles, CA 90004
    • $5,295,000
    • STATUS: Active
    • ON SITE: 57 days
    • MLS #: 21-700440
    UPDATED: 21 min ago
    $5,295,000
    • 2
      BEDS
    • 0.19
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 14,994
      SQFT
    • $353
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1926
    County:
    Area:

    School Ratings & Info

    Description

    There are currently two (2) vacant units at the property. Showings can be coordinated with the listing agent. There is significant rental upside at this property as units are rented below market. The location of the subject property supports historical strong rent growth, which will increase the total income in the future. The property is located in a Potential Qualified Opportunity Zone, which will allow for potential additional tax incentives per the Tax Cuts and Jobs Act of 2017. There is On-Site Laundry - Two (2) Washers & Two (2) Dryers for tenant use and additional owner income. The landscaping and front entryway of the building have been completely replaced. * Due to a covenant on title, 11 units at this property are subject to affordable housing restrictions. Units 7, 10, 28, 35, and 39 are restricted to Low Income market rent limits ($1,261 for 2020) and Units 1,2,6,9,20, and 30 are restricted to Very Low Income market rent limits ($966 for 2020). The Affordable Housing Group releases the maximum allowable rents and income limits each year. The covenant expires in 2039.

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    Based on information from the Combined LA/Westside Multiple Listing Service as of 2021-05-05T23:42:23.267. 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.
    www.markwiseproperties.com/homes/114876763
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    220 S Catalina St Los Angeles, CA 90004

    • Price: $5,295,000
    • Status: Active
    • Updated: 21 min ago
    • MLS #: 21-700440
    2
    Beds
    0
    Baths
    0
    ½ Baths
    0.19
    Acres
    14,994
    SQFT
    $353
    $/SQFT
    1926
    Built
    Neighborhood:
    Mid-Wilshire
    County:
    Los Angeles
    Area:
    Mid-Wilshire
    Property Description
    There are currently two (2) vacant units at the property. Showings can be coordinated with the listing agent. There is significant rental upside at this property as units are rented below market. The location of the subject property supports historical strong rent growth, which will increase the total income in the future. The property is located in a Potential Qualified Opportunity Zone, which will allow for potential additional tax incentives per the Tax Cuts and Jobs Act of 2017. There is On-Site Laundry - Two (2) Washers & Two (2) Dryers for tenant use and additional owner income. The landscaping and front entryway of the building have been completely replaced. * Due to a covenant on title, 11 units at this property are subject to affordable housing restrictions. Units 7, 10, 28, 35, and 39 are restricted to Low Income market rent limits ($1,261 for 2020) and Units 1,2,6,9,20, and 30 are restricted to Very Low Income market rent limits ($966 for 2020). The Affordable Housing Group releases the maximum allowable rents and income limits each year. The covenant expires in 2039.
    Exterior Features

    Lot Size Area 8381 Other Structures None Parking Garage On Street Roof Flat Total Parking 0

    Interior Features

    Baths Total 30.00 Cooling Window Unit(S) Equipment DryerWasher Heating Other Laundry Community Water Heater Features Central Water Heater

    Property Features

    Assessed Total Value 3034500 Gross Income 409560 Gross Operating Income 392682 Like Units1 26 Like Units2 2 Like Units3 2 Net Operating Income 213209.00 Number Of Buildings 1 Number Of Units 30 Owner Pays ElectricityGasWater Rent Control YN Yes Sale Type Standard Source Living Area Vendor Enhanced Source Lot Size Area Vendor Enhanced Source Lot Size Dimensions Vendor Enhanced Total Annual Expense 179473 Type Of Units Mixed Year Built Source Vendor Enhanced Zoning Lar3

    Listing provided courtesy of John Cleator DRE#01951437 of James Capital Advisors, Inc..


    Based on information from the Combined LA/Westside Multiple Listing Service as of 2021-05-05T23:42:23.267. 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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