406 N Benton WAY, Los Angeles, CA 90026 – 24453967 - Jim Nelson

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Jim Nelson

nelsonriddle@cbwhomes.com +1(619) 415-5574

$ 1,275,000

Est. payment -/mo

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Active Under Contract

406 N Benton WAY Los Angeles, CA 90026

3 Beds

4 Baths

1,698 SqFt

UPDATED:

12/19/2024 05:50 AM

Key Details

Property Type Multi-Family

Listing Status Active Under Contract

Purchase Type For Sale

Square Footage 1,698 sqft

Price per Sqft $750

MLS Listing ID 24453967

Bedrooms 3

HOA Y/N No

Year Built 1921

Lot Size 4,499 Sqft

Property Description

FULLY VACANT TRIPLEX at the crossroads of Silver Lake and Historic Filipino Town. A truly unique opportunity that will provide cashflow from day one, or a fantastic owner/user residence to sit back and enjoy while you build equity. Every unit of this 1920's craftsman is ready for full market-rate rental income. Three one bedroom units feature new or newer appliances, expansive cabinet space, and updated baths with subway tile and quartz counters. Petite porches, separate entrances, and the ability for each unit to have its own designated outdoor space adds to the feeling of privacy. A large gated front yard could easily be divided for the individual use of both front units, while a large back patio with a centerpiece lemon tree has enough room for entertaining, lounging and developing your green thumb. Two of the units have direct access to the back patio, while one features a skyline view of downtown. Recently reconverted from a duplex back to a triplex, everything has been permitted and signed off on by the City, making this a worry-free investment property for the ages. A gated rear parking pad has room for three cars in addition to a one car garage that could be great for storage, or as value-add for one of the units. This property is a great addition to any portfolio, or an excellent way to dip your toe into the world of income property. Estimated 6% Cap Rate or 24% Cash over Cash Return (based on 25% down payment). Any way you slice it, this property pencils out.

Location

State CA

County Los Angeles

Area C21 - Silver Lake - Echo Park

Zoning LAR3

Interior

Heating Central

Cooling Central Air

Fireplace No

Appliance Dishwasher, Refrigerator, Dryer, Washer

Exterior

Parking Features Door-Single, Garage, Gated, Private, Side By Side, Uncovered

Garage Spaces 1.0

Garage Description 1.0

View Y/N Yes

View City Lights

Attached Garage No

Total Parking Spaces 4

Building

Story 1

Entry Level One

Level or Stories One

New Construction No

Schools

School District Los Angeles Unified

Others

Senior Community No

Tax ID 5156026010

Special Listing Condition Standard

Listed by Elizabeth Daly • Sotheby's International Realty

Jim Nelson

Agent | License ID: 01852936

+1(619) 415-5574

Jim Nelson

406 N Benton WAY Los Angeles, CA 90026

Key Details

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406 N Benton WAY