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$1,495,000
Est. payment /mo
4 Beds
2,444 SqFt
UPDATED:
Key Details
Property Type Single Family Home
Sub Type OTHER
Listing Status Pending
Purchase Type For Sale
Square Footage 2,444 sqft
Price per Sqft $611
MLS Listing ID CL26829823
Bedrooms 4
HOA Y/N No
Year Built 1943
Lot Size 6,005 Sqft
Acres 0.14
Property Sub-Type OTHER
Property Description
8430 Wiley Post Ave is a well-positioned 4-unit property offering a blend of new construction, mid-term rental income, and strong appeal for both investors and owner-users. The property generates $123,000 in current annual income, with one-bedroom units achieving approximately $3,500/month on mid-term rentals. Offered at $1,495,000, the asset provides a current cap rate of 5.84% with upside to 7.24%.The property features a great unit mix of four 1-bedroom/1-bath units, including two newly constructed units completed in 2024. These rear units offer vaulted ceilings, in-unit washer and dryer, all new appliances, and private outdoor spaces, making them highly attractive to both tenants and short- or mid-term rental users. The property features a large front yard, a rare amenity that enhances the overall livability and appeal of the property. Currently, the back and middle units are operated as Airbnb rentals, generating strong income; however, both units can be delivered VACANT at close of escrow, creating an attractive opportunity for an owner-user or investor seeking great returns. A buyer can implement their preferred strategy from day one whether maximizing returns through mid-term rentals or occupying a unit while offsetting expenses with rental income. Located north of Manchester, the property sits in a quiet residential neighborhood in Westchester, further enhancing its appeal to both tenants and owner-occupants.
Location
State CA
County Los Angeles
Zoning LAR2
Interior
Heating Floor Furnace
Fireplace No
Laundry Dryer, Washer
Building
New Construction No
Others
Tax ID 4107019004
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Listed by David Messiah • Lyon Stahl Investment Real Estate, Inc.
NEARBY SCHOOL & BUSINESS
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