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Listing Details

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School Ratings & Info

Description

6408 Brynhurst Avenue is a four-unit apartment property in Los Angeles, California with development potential. The property is situated on a 7,581-square foot lot and currently features two 1938 construction duplexes with all one-bedroom units and a rear structure with four single-car garages. The units are separately metered for gas and electricity and have in-unit laundry hookups. The roofs of both duplexes have been replaced within the past few years, and two of the units have been recently remodeled.Current rents are 40 percent below market, offering a new investor the opportunity to capture substantial upside. Additionally, a new investor may want to explore the propertys development potential: nine units may be developed by-right, and because the property is located within a transit-oriented community (TOC) zone, up to 17 units may be developed utilizing TOC incentives (Buyer to verify. See page nine of the offering memorandum for additional development potential information.)Anticipation of the new Crenshaw/LAX Metro Line has inspired numerous new developments in the immediate area surrounding the subject property, including a new 12-unit 2021 construction just three doors down. 6408 Brynhurst is located within a half-mile of both the Hyde Park and Fair View Heights stations that will be served by the new Metro line.

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Based on information from California Regional Multiple Listing Service, Inc. as of 2021-09-19T08:25:09.053. 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 deemed reliable but is not guaranteed accurate by the MLS or Brandon Hobbs Group | Compass. Licensed in the State of California, USA.
www.searchwithcompass.com/homes/119574846
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6408 Brynhurst Avenue Los Angeles (City), CA 90043

  • Price: $975,000
  • Status: Active
  • Updated: 73 min ago
  • ID#: PW21160605
0
Beds
0
Baths
0
½ Baths
0.17
Acres
1938
Built
Neighborhood:
PHHT - Park Hills Heights
County:
Los Angeles
Area:
PHHT - Park Hills Heights
Property Description
6408 Brynhurst Avenue is a four-unit apartment property in Los Angeles, California with development potential. The property is situated on a 7,581-square foot lot and currently features two 1938 construction duplexes with all one-bedroom units and a rear structure with four single-car garages. The units are separately metered for gas and electricity and have in-unit laundry hookups. The roofs of both duplexes have been replaced within the past few years, and two of the units have been recently remodeled.Current rents are 40 percent below market, offering a new investor the opportunity to capture substantial upside. Additionally, a new investor may want to explore the propertys development potential: nine units may be developed by-right, and because the property is located within a transit-oriented community (TOC) zone, up to 17 units may be developed utilizing TOC incentives (Buyer to verify. See page nine of the offering memorandum for additional development potential information.)Anticipation of the new Crenshaw/LAX Metro Line has inspired numerous new developments in the immediate area surrounding the subject property, including a new 12-unit 2021 construction just three doors down. 6408 Brynhurst is located within a half-mile of both the Hyde Park and Fair View Heights stations that will be served by the new Metro line.
Exterior Features

Lot Features Rectangular Lot Number Of Separate Electric Meters 4 Parking Total 4 Pool Features None Pool Private YN No Property Attached YN No

Interior Features

Common Walls No Common Walls

Property Features

Additional Parcels YN No Cap Rate 3.69 Common Interest None Community Features Urban Electric Expense 0 Fuel Expense 0 Garage YN Yes Gross Income 56058 Gross Scheduled Income 57792 Insurance Expense 0 Land Lease YN No Laundry Features Washer HookupElectric Dryer Hookup Listing Agreement Exclusive Right To Sell Listing Service Full Service Listing Terms CashCash To New Loan Net Operating Income 37315 New Construction YN No Number Of Separate Gas Meters 4 Number Of Separate Water Meters 1 Operating Expense 18743 Rent Control YN Yes Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Trash Expense 0 Water Sewer Expense 0 Water Source Public Zoning Lar3

Listing provided courtesy of Steven Bogoyevac of Steven M. Bogoyevac, Broker


Based on information from California Regional Multiple Listing Service, Inc. as of 2021-09-19T08:25:09.053. 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 deemed reliable but is not guaranteed accurate by the MLS or Brandon Hobbs Group | Compass. Licensed in the State of California, USA.
 
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Brandon Hobbs Group | Compass
341 Bayside Drive
Newport Beach CA, 92660