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Key Details
Sold Price $2,125,000
Property Type Multi-Family
Sub Type Triplex
Listing Status Sold
Purchase Type For Sale
MLS Listing ID WS24097882
Sold Date 10/09/24
HOA Y/N No
Year Built 1940
Lot Size 10,537 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 landlord’s meticulous attention to maintenance and tenant relations exemplifies the property’s 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 656 - Sierra Madre
Zoning SRR3CC*
Interior
Interior Features Balcony, Ceiling Fan(s), Attic
Heating Central, Wall Furnace
Cooling Central Air, Wall/Window Unit(s)
Flooring Tile, Wood
Fireplaces Type Family Room, Living Room
Fireplace Yes
Appliance Water Heater
Laundry In Garage
Exterior
Exterior Feature Rain Gutters
Garage Spaces 4.0
Garage Description 4.0
Fence Wood
Pool None
Community Features Curbs
Utilities Available Cable Connected, Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
View Y/N Yes
View Hills, Neighborhood
Roof Type Shingle
Accessibility Safe Emergency Egress from Home
Total Parking Spaces 4
Private Pool No
Building
Lot Description Back Yard
Story 2
Entry Level Three Or More
Foundation Raised
Sewer Public Sewer
Water Public
Level or Stories Three Or More
New Construction No
Others
Senior Community No
Tax ID 5767020026
Security Features Carbon Monoxide Detector(s),Fire Sprinkler System
Acceptable Financing Cash, Cash to New Loan, Conventional
Listing Terms Cash, Cash to New Loan, Conventional
Financing Trade
Special Listing Condition Standard
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Bought with James Moran • Moran Real Estate Inc.
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Monique H. Ott-Beacham
Broker | License ID: DRE #01448692
Broker License ID: DRE #01448692