3303 Hamilton Way Los Angeles, CA

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Hamilton Way, Los Angeles, Home For Sale

Price: $1,100,000
Address: 3303 Hamilton Way
City: Los Angeles
State: CA
Zip:
Bathrooms: 4
Bedrooms: 4
Condition: Resale
Fee: No
Provided By: RealtyWW

Description:

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.

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