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3500 Cimarron St Los Angeles, CA 90018
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Key Details
Sold Price $1,275,000
Property Type Multi-Family
Sub Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Square Footage 2,484 sqft
Price per Sqft $513
MLS Listing ID 25-489189
Sold Date 03/25/25
Bedrooms 6
Year Built 1945
Lot Size 5,489 Sqft
Acres 0.126
Property Sub-Type Multi-Family
Property Description
Welcome to 3500 Cimarron St, a prime investment opportunity featuring all government-backed Section 8 tenants. This property consists of three units, each with two (2) bedrooms and one (1) bathroom. It also includes a spacious parking area with potential to add a large ADU for additional income (buyer to verify). The property was just painted, has all new heating systems installed, and was re-roofed in 2017. Two of the three units have been completely updated. This fully occupied property generates $8,680/month in rental income from three Section 8 tenants, with extremely low expenses, providing a very competitive cap rate and NOI on a low-maintenance building. Located in the thriving Jefferson Park neighborhood, with new restaurants and shoppes opening daily, this area promises future growth and development opportunities for any buyer.Please do not disturb the tenants.
Location
State CA
County Los Angeles
Area Park Hills Heights
Zoning LAR2
Rooms
Other Rooms None
Interior
Heating Other
Cooling Other
Equipment Refrigerator, Range/Oven
Exterior
Parking Features Assigned, Driveway Gate, Driveway
Garage Spaces 3.0
Building
Story 2
Level or Stories Two
Others
Special Listing Condition Standard
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Bought with Sepulveda Realty Inc.