6413 S Vermont Avenue, Los Angeles, California 90044, Los Angeles, 90044 - bed, bath
ACTIVE$899,900
6413 S Vermont Avenue, Los Angeles, California 90044
0Bed
0Bath
2,802Sqft
2,500Lot
Year Built
1964
Close
-
List price
$900K
Original List price
$900K
Price/Sqft
$321
HOA
-
Days on market
-
Sold On
-
MLS number
IV25042272
Home ConditionFair
Features
Good View: City Lights
ViewCity Lights
About this home
We found 3 Cons,6 Pros. Rank: price - $899.9K(75th), sqft - 2802(78th), beds - undefined(50th), baths - undefined(50th).
Excellent Cash-Flowing Income Property! Zoned C2, this multi-use building offers a potential 7.2% CAP rate (when fully leased) with 3 residential units generating reliable income from excellent, on-time tenants: a 2-bed/1-bath, a 1-bed/1-bath, and a non-conforming 1-bed/1-bath...PLUS, a fully renovated, VACANT commercial unit ready for immediate occupancy. This property blends immediate income with significant future potential a prime opportunity for investors seeking immediate returns and future growth. This is one of the best deals in Los Angeles! Don't delay—secure this exceptional investment today!"
Nearby schools
2/10
Gerald A. Lawson Academy Of The Arts, Mathematics And Science
Public,•K-6•0.3mi
3/10
Budlong Avenue Elementary School
Public,•K-5•0.5mi
4/10
Sixty-Eighth Street Elementary School
Public,•K-6•0.5mi
3/10
Sixty-First Street Elementary School
Public,•K-6•0.6mi
3/10
Raymond Avenue Elementary School
Public,•K-5•0.7mi
3/10
Fifty-Second Street Elementary School
Public,•K-5•1.1mi
2/10
Western Avenue Elementary School
Public,•K-5•1.3mi
5/10
Estrella Elementary School
Public,•K-5•1.3mi
2/10
Main Street Elementary School
Public,•K-5•1.4mi
2/10
John Muir Middle School
Public,•6-8•0.4mi
2/10
Mary Mcleod Bethune Middle School
Public,•6-8•1.2mi
2/10
Barack Obama Global Preparation Academy
Public,•6-8•1.7mi
3/10
Los Angeles Academy Middle
Public,•6-8•1.8mi
2/10
Augustus F. Hawkins High A Critical Design And Gaming
Public,•9-12•0.4mi
3/10
John C. Fremont Senior High School
Public,•9-12•1.5mi
3/10
Nava College Preparatory Academy
Public,•9-12•3.1mi
5/10
Santee Education Complex
Public,•9-12•3.7mi
9/10
Middle College High School
Public,•9-12•4.4mi
Price History
Date
Event
Price
05/05/23
Sold
$455,000
09/20/13
Sold
$180,000
Condition Rating
Fair
Built in 1964, the residential units of this multi-unit property feature significantly outdated kitchens and bathrooms with older cabinets, laminate countertops, basic appliances, and linoleum/vinyl flooring. While appearing maintained and functional for tenants, these areas would require substantial aesthetic updates to meet current market expectations. The commercial unit has been recently renovated to a modern standard, which is a positive, but the overall condition of the residential components, coupled with the property's age and potential for older major systems, places it in the 'Fair' category, indicating it requires minor to moderate updates.
Pros & Cons
Pros
Great Schools: High School: Middle College High School (9/10).
High Income Potential: The property is explicitly marketed as an 'Excellent Cash-Flowing Income Property' with a potential 7.2% CAP rate when fully leased, indicating strong financial returns for investors.
Flexible C2 Zoning: Zoned C2, this multi-use building offers significant flexibility for various commercial and residential uses, enhancing its market appeal and future potential.
Renovated & Vacant Commercial Unit: A fully renovated commercial unit is vacant and ready for immediate occupancy, providing an immediate opportunity to secure a new tenant and generate additional income without further renovation costs.
Stable Residential Income: The property includes three residential units with 'excellent, on-time tenants,' ensuring a reliable and consistent income stream from the residential component.
Multi-Use Building: The combination of residential and commercial units diversifies income streams, reducing risk and offering a broader investment appeal compared to single-use properties.
Cons
Non-Conforming Residential Unit: One of the residential units is non-conforming, which could present legal, regulatory, or financing challenges and may require future remediation.
Conditional CAP Rate: The attractive 7.2% CAP rate is a 'potential' figure, contingent on the property being 'fully leased,' meaning the current CAP rate is lower due to the vacant commercial unit.
Property Age & Potential Maintenance: Built in 1964, the property's age suggests that major systems (e.g., plumbing, electrical, roof) may be original or older, potentially requiring significant capital expenditures for updates or repairs in the near future.