5150 Ithaca
Property Description
This turnkey four-unit income property presents an outstanding investment opportunity, featuring a beautifully remodeled Unit 2 with a modern, high-end aesthetic and a newly constructed ADU with its own private entrance. The spacious unit mix offers strong tenant appeal while providing excellent long-term income potential. Ideally located near Cal State LA and with convenient access to Downtown Los Angeles and other major employment and lifestyle destinations, the property benefits from consistent rental demand. With projected rental increases, investors have the opportunity to achieve an estimated 5.1% capitalization rate, making this an attractive option for both long-term investors seeking stable cash flow and owner-occupants looking to offset ownership costs with rental income. Current Rents (Total: $7,619.43/month) Unit 1: 3 Bed / 2 Bath - $1,609.81 Unit 2: 2 Bed / 2 Bath - $2,250 Unit 3: 2 Bed / 2 Bath - $1,259.62 Unit 4 (ADU): 2 Bed / 2 Bath - $2,500 Current Financials: Annual Net Income: $69,928.57 Net Operating Income (NOI): $69,928.57 Annual Operating Expense: $21,504.59 Gross Rent Multiplier (GRM): 14.76% Capitalization Rate (Cap Rate): 5.18%
Broker Details
eXp Realty of Greater Los Angeles, Inc (888) 584-9427
MLS ID: PWSTEGRA State License Number: 02194905
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | 2-4 Units |
| Price: | $1,350,000 |
| No. of Units: | 4 |
| Year Built: | 1988 |
| Opportunity Zone: | No |
| Price per unit: | $337,500 |
| Number of Bedrooms: | 2 |
| Number of Bathrooms: | 2 |
ID: 3yd-MRMLSCA-PW26156976
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