7851 Talbert St Playa Del Rey , CA 90293
Active
$2,500,000
4%
6 Units
7 Beds
8 Baths
4,937 Area(sq.ft.)
4,864 Lot Size(sq.ft.)
| Type | # of Units | Bedroom | Bath | Furnished | Rent | Actual Rent | Projected Rent |
|---|---|---|---|---|---|---|---|
| Unit 1 | 1 | 2 | 2 | No | $ 2,915 | $ 2,915 | $ 3,725 |
| Unit 2 | 1 | 1 | 1 | No | $ 1,563 | $ 1,563 | $ 2,675 |
| Unit 3 | 1 | 1 | 1 | No | $ 2,439 | $ 2,439 | $ 2,675 |
| Unit 4 | 1 | 2 | 1.50 | No | $ 3,595 | $ 3,595 | $ 3,595 |
| Unit 5 | 1 | 2 | 1.50 | No | $ 2,372 | $ 2,372 | $ 3,595 |
| Unit 6 | 1 | 1 | 1 | No | $ 2,171 | $ 2,171 | $ 2,675 |
| 6 | 6 | 9 | 9 | $ 15,055 | $ 15,055 | $ 18,940 |
| MLS #: | 24-424121 |
| Days On Market: | 181 |
| County: | Los Angeles |
| Property Type: | Residential Income |
| Price per ft2: | $ 506 |
| Price per unit: | $ 416,667 |
| Year Built: | 1960 |
Property Details
Location! Location! Location! This six-unit building, located at 7851 W Talbert Street in the beautiful beachside community of Playa del Rey, represents a prime investment opportunity and a true trophy property. The property consists of a large unit mix, including one 2-bedroom/2-bathroom unit, two 2-bedroom/1.5-bathroom unit, and three 1-bedroom/1-bathroom units. The building offers a total of 4,937 square feet of living space situated on a 4,849 square foot lot. Built in 1960, this well-maintained property is listed at $2,500,000, equating to $416,667 per unit and $506 per rentable square foot. The property currently generates $15,055 per month and $180,659 per year in rental income, with a potential increase to $18,940 per month and $227,280 per year at market rent levels, reflecting a significant 26% rental upside potential. All tenants are currently on MTM leases with the exception of unit #3 who plans to vacate the property in the coming months and unit #4 which is also vacant. The property's exterior and walkways were recently pressure washed. The owner hired a professional painting company to paint the entire exterior, including trim, handrails, and all 6 garages. The roof was completely recoated with two coats of silicone that is warrantied up to 10 years. All these improvements have successfully revamped this gem into a beautiful, modern looking and easy to maintain property for the new owners. Rent will be raised on February 1st, 2025. Give us a call to discuss ADU potential. There is garage space for at least one if not two ADUs.Interested in this Listing?
Miami Residence will connect you with an agent in a short time.
Income Details
| Vacancy Rate: | 3% |
| Gross Operating Income: | $ 177,639 |
| Total Annual Expense: | $ 56,803 |
| Net Operating Income: | $ 120,836 |
| Gross Annual Income: | $ 2,400 |
| Cap Rate: | 4.83% |
| Gross Rent Multiplier: | 13.84 |
| Actual Gross Rent: | $ 175,368 |
Structure
| Type of Units: | Apartment |
| Buildings: | 1 |
| Levels: | Multi/Split |
Land & Parking
| Zoning: | LAR3 |
| Parking Garage: | Above Street Level, Assigned, Garage Is Attached, Driveway - Pavers |
| Total Parking: | 13 |
Interior
| AC/Cooling: | None |
| Equipment: | None |
| Heating: | None |
Exterior
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