151 S Mountain View Ave Los Angeles, CA 90057
Property Features for 151 S Mountain View Ave
General Information
- Interior features
- Interior Feature 1, : "Cooling: Ceiling Fan", "Interior Feature 2": "Heating: Wall Electric"
- Lot size
- 0.15 Acres
Building Details
- Year built
- 1954
Source: Global Platinum Properties
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
Overview
Renovated Multifamily Building with Expansion Potential
This renovated 10-unit multifamily building includes plans for 6 additional units. The property is currently cash flowing at a 6% cap rate, with potential upside to 8.4% on proforma. Preliminary plans exist to add 6 new units in the garages, potentially achieving a 10.2% current cap rate and a 12.6% proforma cap rate. The cost after construction is estimated at $188,000 per door, taking into account all construction costs (approximately $415,000, assuming $300 per square foot). All units are individually metered for electricity and gas, and tenants are responsible for trash. The property includes eight vacant single-car garages, offering additional income and ADU potential. Plans for additional units in the garages may eliminate or reduce the soft-story scope of work and cost. The unit mix consists of 10 large one-bedroom, one-bathroom units. Six units have been fully remodeled with new modern cabinets, flooring, lighting, and bathrooms, along with significant exterior improvements. The property is located in the trendy and historic Filipino Town, minutes from Echo Park, Silverlake, and Downtown Los Angeles, near neighborhood attractions, restaurants, bars, and shops such as Brooklyn Bagel Bakery, Boba Guys - Rideback Ranch, HiFi Kitchen, and Laveta Coffee.
Location Intelligence
Current Use by Public Records
Apartment buildings
Location Insight
- Map
- Local Demand
- City
- Los Angeles
- County
- Los Angeles
- State
- California
- Longitude
- -118.2707442
- Latitude
- 34.0651394
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FAQs
What type of property is this?
Apartment building - Cash flowing 10-unit building with plans for 6 more units.
Where is this apartment building located?
The property is located at 151 S Mountain View Ave Los Angeles, CA.
What is the asking price?
The asking price for this property is $2,595,000.
What are key features of this property?
This property features: - High Cash Flow: Existing 6% Cap Rate with potential to reach 10.2% (Current) and 12.6% (Proforma) after adding 6 units.; - Expansion Potential: Approved plans to add 6 new units in existing garages, increasing income and property value.; - Reduced Soft-Story Costs: Garage unit addition reduces or eliminates soft-story work and associated expenses.