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Listing Details

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School Ratings & Info

Description

We are pleased to announce the sale of 6325 Marconi Street, an 18-unit non-rent controlled multifamily property in Huntington Park, CA, a dense rental market in Southeast Los Angeles. This offering presents a rare opportunity to purchase a non-rent controlled property with rents that are still far below market levels. Due in part to recent rent growth in the Huntington Park area, where rents have increased by 7.0% year-over-year, the current rents sit approximately 29% below those of similar units in the area.Insulated from crowded traffic corridors, the building sits among single family homes and smaller multifamily properties, yet its location still allows tenants convenient access to the Pacific Boulevard Shopping District. The ample on-site covered parking allows space for 20 vehicles, while an on-site laundry room provides an additional income stream for the owner.

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Based on information from the Combined LA/Westside Multiple Listing Service as of 2021-09-20T06:42:42.863. 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.jelmbergteam.com/homes/98204476
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6325 Marconi St Huntington Park, CA 90255

  • Price: $3,240,000
  • Status: Active
  • Updated: 13 min ago
  • MLS #: 19-502654
11
Beds
0
Baths
0
½ Baths
N/A
Acres
10,881
SQFT
$298
$/SQFT
1964
Built
Neighborhood:
Vernon, Maywood, Hunt Pk &Amp; Bell, N Of Florence, W Of 710
County:
Los Angeles
Area:
Vernon, Maywood, Hunt Pk &Amp; Bell, N Of Florence, W Of 710
Property Description
We are pleased to announce the sale of 6325 Marconi Street, an 18-unit non-rent controlled multifamily property in Huntington Park, CA, a dense rental market in Southeast Los Angeles. This offering presents a rare opportunity to purchase a non-rent controlled property with rents that are still far below market levels. Due in part to recent rent growth in the Huntington Park area, where rents have increased by 7.0% year-over-year, the current rents sit approximately 29% below those of similar units in the area.Insulated from crowded traffic corridors, the building sits among single family homes and smaller multifamily properties, yet its location still allows tenants convenient access to the Pacific Boulevard Shopping District. The ample on-site covered parking allows space for 20 vehicles, while an on-site laundry room provides an additional income stream for the owner.
Exterior Features

Lot Size Area 15141 Other Structures None Parking Garage GarageGated Total Parking 20

Interior Features

Baths Total 19.00 Cooling Air Conditioning Equipment Other Heating Other

Property Features

Gross Income 233766 Gross Operating Income 240921 Like Units1 12 Like Units2 2 Like Units3 3 Like Units4 1 Net Operating Income 133181.00 Number Of Buildings 2 Number Of Units 18 Sale Type Standard Source Living Area Assessor Source Lot Size Area Assessor Total Annual Expense 100585 Type Of Units Residential Year Built Source Assessor Zoning Hpr3*

Listing provided courtesy of Roderick 'Rick' Raymundo DRE#01357019 of Marcus & Millichap.


Based on information from the Combined LA/Westside Multiple Listing Service as of 2021-09-20T06:42:42.863. 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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The Jelmberg Team | Keller Williams
39-575 Washington Street, Suite #105
Palm Desert CA, 92211