Under contract
Active Under Contract
3303 Hamilton Way
Los Angeles CA, 90026
$1,100,000
$418.89 per sqft
Under contract
Active Under Contract
4 Beds
4 Baths
2,626 sqft
Residential
Built in 1931
Listed by John McCann with Lyon Stahl Investment Real Estate, Inc. 310-382-1063
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.
24461519
MLSⓇ ID
November 7, 2024
Listed
December 5, 2024
Updated
Map
3303 Hamilton Way
Los Angeles CA, 90026
Interior Features
Total Stories
0
Bedrooms
4
Total Bathrooms
4
Fireplace
No
Cooling
No
Heating
Yes
Heating Description
Wall Furnace
Exterior/Building Features
Lot Size
0.04 Acres
Other Property Details
Area Name
C21 - Silver Lake - Echo Park
Days on Market
27
Garage
Yes
Parking
Garage
Parking Total
0
View
No
County
Los Angeles
Pool
No
Zoning
LAR2
Listing History
Date | Event | Price |
|---|---|---|
11/27/2024 | Under contract | — |
Listing Contact: 310-425-9838
Based on information from the California Regional Multiple Listing Service (CRMLS) as of 12/5/2024. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, the Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. Any offer of compensation is made only to participants of the MLS where the listing is filed.
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Data last updated on 12/5/2024 at 12:13 PM UTC