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    220 S Catalina Street

    Los Angeles (City), CA 90004
    • $5,295,000
    • STATUS: Active
    • ON SITE: 62 days
    • ID#: 21700440
    UPDATED: 14 min ago
    $5,295,000
    • 0
      BEDS
    • 0.19
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 14,994
      SQFT
    • $353
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1926
    County:

    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 California Regional Multiple Listing Service, Inc. as of 2021-05-10T20:35:44.45. 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 The DeBonis Team | Keller Williams Realty. Licensed in the State of California, USA.
    www.debonishomes.com/homes/114879065
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    220 S Catalina Street Los Angeles (City), CA 90004

    • Price: $5,295,000
    • Status: Active
    • Updated: 14 min ago
    • ID#: 21700440
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.19
    Acres
    14,994
    SQFT
    $353
    $/SQFT
    1926
    Built
    Neighborhood:
    C17 - Mid-Wilshire
    County:
    Los Angeles
    Area:
    C17 - 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

    Parking Features On Street

    Property Features

    Disclosures Rent Control Gross Income 409560 Laundry Features Common Area Listing Agreement Seller Reserved Listing Service Full Service Net Operating Income 213209 Rent Control YN Yes Senior Community YN No Special Listing Conditions Standard Total Actual Rent 409560 Zoning Lar3

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


    Based on information from California Regional Multiple Listing Service, Inc. as of 2021-05-10T20:35:44.45. 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 The DeBonis Team | Keller Williams Realty. Licensed in the State of California, USA.
     
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    Riverside CA, 92508