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Key Details
Sold Price $1,375,000
Property Type Multi-Family
Sub Type Quadruplex
Listing Status Sold
Purchase Type For Sale
Subdivision Lakewood City/Lakewood (Lck)
MLS Listing ID PW24189785
Sold Date 10/16/24
HOA Y/N No
Year Built 1969
Lot Size 8,481 Sqft
Property Description
An excellent opportunity to acquire a 4-unit multifamily building in Lakewood, CA. Located at 5919 Woodruff Ave, this multifamily asset was built in 1969. It offers one 3 bed, 2 bath owner’s unit with interior washer/dryer hookups and three 2 bed, 1 bath units. Residents of the property enjoy off-street parking, as well as an on-site laundry room. The buildings boast a total of 4,231 gross rentable square feet on a large 8,483 square foot lot. The property is directly across the street from Mayfair High School and Middle School and a few doors down from Saint Joseph High School. Residents of the property enjoy the ability to walk to shops and restaurants at the intersection of South St including Vons, Grocery Outlet, Ace Hardware, Starbucks, Mamma’s Sushi, Carl’s Jr, Subway, Church’s Texas Chicken, El Pollo Loco and Thai Villa just to name a few. With more than 50% upside potential in rental income, it is the perfect opportunity for an investor to add value and achieve an exceptional return. With the front unit offering over 1300 square feet of private living space, this property also provides an exceptional opportunity for the new owner to live in one unit and enjoy rental income from the others.
Location
State CA
County Los Angeles
Area 21 - Crest Gardens, Mayfair, Signature
Zoning LKMFR*
Interior
Heating Radiant
Fireplace No
Laundry Common Area
Exterior
Garage Spaces 5.0
Garage Description 5.0
Pool None
Community Features Curbs
Total Parking Spaces 7
Private Pool No
Building
Lot Description Landscaped, Walkstreet
Story 2
Entry Level Two
Sewer Public Sewer
Water Public
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 7165016021
Acceptable Financing Cash, Cash to New Loan
Listing Terms Cash, Cash to New Loan
Financing Conventional
Special Listing Condition Standard
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Bought with Justin White • Justin White
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Monique H. Ott-Beacham
Broker | License ID: DRE #01448692
Broker License ID: DRE #01448692