Los Angeles, CA 90038,971 N Wilton PL
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Los Angeles, CA 90038,971 N Wilton PL
Los Angeles, CA 90038,971 N Wilton PL
Los Angeles, CA 90038,971 N Wilton PL
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$ 1,174,995
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Price Dropped by $25K

971 N Wilton PL Los Angeles, CA 90038

7 Beds

4 Baths

2,654 SqFt


UPDATED:

Key Details

Property Type Single Family Home

Listing Status Active

Purchase Type For Sale

Square Footage 2,654 sqft

Price per Sqft $442

MLS Listing ID 25492999

Bedrooms 7

HOA Y/N No

Year Built 1913

Lot Size 6,751 Sqft

Property Description

Rare opportunity to secure a well-maintained Hollywood triplex with immediate upside and strong cash flow potential. Fully stabilized, the property can generate approximately $90,000 per year in gross rental income, yielding an estimated net operating income of $54,000 annually and a projected 4.5% cap rate at the $1.2 million purchase price. Current income totals $4,400 per month from two occupied units: a spacious 3-bedroom, 2-bath unit renting at $2,900/month and a 1-bedroom, 1-bath unit renting at $1,500/month. The third unit, delivered vacant, is a bright 1-bedroom, 1-bath with a private balcony, ready to lease at market rate of approximately $2,500/month, immediately boosting total monthly income to $7,500. Operating expenses are just $3,000 per month ($36,000 annually), supporting strong cash flow and a clear path to increase income by over 50% as existing below-market rents are adjusted over time. Zoned RD1.5XL, the property allows 5 units by right or up to 8 units with TOC Tier 2 bonuses, offering exceptional redevelopment potential in a rapidly transforming neighborhood. A similar property next door was recently redeveloped into 8+ units, highlighting the area's upside for developers. The building has been well maintained and features on-site parking and a private yard. The back unit, built in 2011, is not subject to LA's rent control ordinance (buyer to verify), providing additional long-term flexibility. Located near Paramount Studios and Hollywood's major employers, this property is an ideal opportunity for investors seeking immediate income with substantial growth potential. Buyers to independently verify all information.

Location

State CA

County Los Angeles

Area C20 - Hollywood

Zoning LARD1.5

Interior

Heating None

Cooling None

Fireplace No

Exterior

Parking Features Side By Side, Uncovered

Total Parking Spaces 4

Building

Story 2

Entry Level Multi/Split

Level or Stories Multi/Split

New Construction No

Others

Senior Community No

Tax ID 5536016006

Special Listing Condition Standard


CRMLS – RECore
Listed by Sonny Shackelford Nicholas Property Group
agent

Tina Avila

Agent

+1(619) 729-6801

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971 N Wilton PL