Under contract
3303 Hamilton Way
Los Angeles CA, 90026
$1,100,000
$418.89 per sqft
Under contract
4 Beds
4 Baths
2,626 sqft
Multi-family
Built in 1931
Located at 3303 Hamilton Way in Los Angeles, CA 90026, this multifamily property offers a blend of stable income and value-add potential in a high-demand neighborhood. Built in 1931, the property comprises three units: one 2-bedroom, 1-bath unit, two 1-bedroom, 1-bath units, and one non-conforming studio. It totals 2,626 sq. ft. of rentable space on an 1,889 sq. ft.lot and is fully occupied on month-to-month leases, providing flexibility for future adjustments or redevelopment. The current gross monthly rent is $5,879, equating to $70,548 annually, with market rents estimated at $8,200 per month or $98,400 annually. This results in a current cap rate of 3.68% and a GRM of 15.59, aligning with area standards. At market rents, the potential cap rate rises to 6.32% with a GRM of 11.18. The property's net income is currently $40,442, with a projected increase to $69,506 at market rates, reflecting a significant upside. Priced at $1,100,000, the property's price per square foot is approximately $419 and $366,667 per door. The building also includes two single-car garages on the ground floor, with the potential for ADU conversion, adding an attractive value-add opportunity for investors.
24-461519
MLSⓇ ID
November 7, 2024
Listed
November 27, 2024
Updated
Map
3303 Hamilton Way
Los Angeles CA, 90026
Interior Features
Total Stories
0
Bedrooms
4
Total Bathrooms
4
Appliances
None
Fireplace
No
Cooling
Yes
Cooling Description
Window Unit(s)
Heating
Yes
Heating Description
Wall
Exterior/Building Features
Lot Size
0.04 Acres
Other Property Details
Area Name
Silver Lake - Echo Park
Days on Market
20
Garage
Yes
Parking
Garage, Garage Is Attached
Parking Total
0
View
No
County
Los Angeles
Pool
No
Zoning
LAR2
Listing History
Date | Event | Price |
---|---|---|
11/27/2024 | Under contract | — |
Listed by John McCann with Lyon Stahl Investment Real Estate, Inc.
Listing Contact: 310-408-0121
Based on information from The MLSTM / Combined LA/Westside Multiple Listing Service, Inc. IDX information is provided exclusively for consumers' personal, non-commercial use, it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All information is deemed reliable but not guaranteed and should be independently reviewed and verified. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. All properties are subject to prior sale, change or withdrawal, and may or may not be listed by the office/agent presenting the information. Neither listing broker(s) nor John Guentner | CA DRE# 01919579 shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless.
©2024 Combined L.A./Westside MLS. All rights reserved.
Data last updated 11/27/2024