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Key Details
Sold Price $2,125,000
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Sold
Purchase Type For Sale
MLS Listing ID WS24097882
Sold Date 10/09/24
Bedrooms 6
HOA Y/N No
Lot Size 10,536 Sqft
Property Description
Located in a highly desirable area, 70 Auburn stands out as a premier multi-family property offering significant investment potential. This property boasts two well-maintained units with stable, communicative tenants, ensuring consistent rental income from the get-go. The landlords meticulous attention to maintenance and tenant relations exemplifies the propertys excellent management. Nestled between these dwellings are charming courtyards adorned with citrus and lemon trees, providing a peaceful oasis for relaxation and outdoor enjoyment. The third unit presents a wealth of possibilities, either to be expanded or simply refined with minor touch-ups. An array of supplies for these enhancements is already provided by the current owner, further reducing initial costs for the new investor. Each unit benefits from a fully prepared laundry facility, adding to the convenience for residents and enhancing the property's appeal. Positioned for both residential and entrepreneurial uses thanks to its zoning with an entrepreneurial overlay, 70 Auburn offers numerous development opportunities. Whether looking to capitalize on the existing structure or to explore more extensive redevelopment options, this property caters to a broad spectrum of investment strategies. With its strategic location and versatile potential, 70 Auburn represents a rare opportunity to invest in a property that promises both immediate returns and long-term growth.
Located in a highly desirable area, 70 Auburn stands out as a premier multi-family property offering significant investment potential. This property boasts two well-maintained units with stable, communicative tenants, ensuring consistent rental income from the get-go. The landlords meticulous attention to maintenance and tenant relations exemplifies the propertys excellent management. Nestled between these dwellings are charming courtyards adorned with citrus and lemon trees, providing a peaceful oasis for relaxation and outdoor enjoyment. The third unit presents a wealth of possibilities, either to be expanded or simply refined with minor touch-ups. An array of supplies for these enhancements is already provided by the current owner, further reducing initial costs for the new investor. Each unit benefits from a fully prepared laundry facility, adding to the convenience for residents and enhancing the property's appeal. Positioned for both residential and entrepreneurial uses thanks to its zoning with an entrepreneurial overlay, 70 Auburn offers numerous development opportunities. Whether looking to capitalize on the existing structure or to explore more extensive redevelopment options, this property caters to a broad spectrum of investment strategies. With its strategic location and versatile potential, 70 Auburn represents a rare opportunity to invest in a property that promises both immediate returns and long-term growth.
Location
State CA
County Los Angeles
Area Sierra Madre (91024)
Zoning Assessor
Interior
Cooling Central Forced Air, Wall/Window
Building
Lot Description Curbs
Story 2
Lot Size Range 7500-10889 SF
Level or Stories 3 Story
Others
Monthly Total Fees $65
Acceptable Financing Cash, Conventional
Space Rent $3,225
Listing Terms Cash, Conventional
Financing Exchange
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Bought with James Moran • Moran Real Estate Inc.