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

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