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617 54th Street
Los Angeles, CA 90037
Sold
This new construction duplex is located in the bustling city of Los Angeles! The duplex boasts 5 bedrooms and 4 bathrooms in each unit. The bedrooms are well-sized with ample closet space as well as bathrooms featuring sleek designs and high-end fixtures. The open floor plans include a living room, dining area, and a gourmet kitchen with stainless steel appliances and quartz countertops. The property also features a private yard, in-unit laundry, central HVAC, and a new solar system. Each unit is separately metered, which means that the landlord does not have to cover any of the utility expenses. This feature provides an added level of financial security and peace of mind for landlords, making it a smart investment opportunity. In addition to the spacious units, this new construction duplex also offers an opportunity to convert the detached garage into an ADU (accessory dwelling unit). This would provide the potential for additional income or a separate living space for a family member or tenant. The ADU can be customized to fit your specific needs and can include features such as a kitchen, bathroom, and living area. This new construction duplex offers an outstanding investment opportunity, with proforma rents estimated to yield a 6.23% cap rate. However, the property's value proposition becomes even more compelling with the added potential for rental income from the ADU. With the additional rent from the ADU, the overall cap rate could potentially exceed 7.5%. This unique feature of the property offers endless possibilities and could provide a great return on investment. Furthermore, it is important to note that the property is not subject to rent control, which ensures that the landlord can charge market rents. The property is sold with a 1-year builder warranty, which provides additional peace of mind for the buyer. This property offers a unique blend of modern amenities, cost-saving features, and income potential, making it an ideal choice for any savvy investor looking to capitalize on the thriving Los Angeles rental market. The property's prime location also adds to its appeal, providing easy access to major roads and freeways, as well as public transportation, making it a highly desirable location for tenants.
PROPERTY INFORMATION
| MLS # | OC23008246 | Lot Size | 5,460 Sq. Ft. |
| HOA Fees | $0/Monthly | Property Type | Duplex |
| Price | $ 1,300,000
Price Per SqFt: $ 366 |
DOM | 891 Days |
| Address | 617 54th Street | Type | Residential Income |
| City | Los Angeles | Sq.Ft. | 3,548 Sq. Ft. |
| Postal Code | 90037 | Garage | 2 |
| County | Los Angeles | Year Built | 2023 |
| Bed / Bath | 10 / 0 | Parking | 4 |
| Built In | 2023 | Status | Closed |
| Sold Date | 2023-03-01 |
INTERIOR FEATURES
| Has Laundry | Yes |
| Laundry Information | Gas & Electric Dryer Hookup, Gas Dryer Hookup, Washer Hookup |
| Has Fireplace | No |
| Fireplace Information | None |
| Has Appliances | Yes |
| Kitchen Appliances | Disposal, Gas Oven, Gas Range, Gas Cooktop, Range Hood, Refrigerator, Tankless Water Heater, Vented Exhaust Fan |
| Has Heating | Yes |
| Heating Information | Central |
| Room Information | Attic, Entry, Laundry, Living Room, Primary Bathroom, Primary Bedroom, Primary Suite, Multi-Level Bedroom, Office |
| Has Cooling | Yes |
| Cooling Information | Central Air |
| Flooring Information | Tile, Vinyl |
| InteriorFeatures Information | Quartz Counters, Recessed Lighting, Storage |
| Has Spa | No |
| SpaDescription | None |
EXTERIOR FEATURES
| ExteriorFeatures | Lighting, Rain Gutters |
| FoundationDetails | Slab |
| Roof | Composition |
| Has Pool | No |
| Pool | None |
| Has Fence | Yes |
| Fencing | Wrought Iron |
WALKSCORE
MAP
MORTGAGE CALCULATOR
- Principal & Interest:
- Property Tax: $1,387
- Home Insurance:$119
- HOA Fees:$0
- Mortgage Insurance:
PRICE HISTORY
| Date | Event | Price |
| 03/01/2023 | Sold | $1,250,000 |
| 01/16/2023 | Listed | $1,300,000 |
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Listing provided courtesy of Drew Dunn, Four Brothers Real Estate, Inc.. Based on information from California Regional Multiple Listing Service, Inc. as of #Date#. 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 usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.
