7851 Talbert Street, Playa Del Rey, CA 90293 (MLS # 24424121)
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Location! Location! Location! This six-unit building, located at 7851 W Talbert Street in the beautiful beachside community of Playa del Rey, represents a prime investment opportunity and a true trophy property. The property consists of a large unit mix, including one 2-bedroom/2-bathroom unit, two 2-bedroom/1.5-bathroom unit, and three 1-bedroom/1-bathroom units. The building offers a total of 4,937 square feet of living space situated on a 4,849 square foot lot. Built in 1960, this well-maintained property is listed at $2,500,000, equating to $416,667 per unit and $506 per rentable square foot. The property currently generates $15,055 per month and $180,659 per year in rental income, with a potential increase to $18,940 per month and $227,280 per year at market rent levels, reflecting a significant 26% rental upside potential. All tenants are currently on MTM leases with the exception of unit #3 who plans to vacate the property in the coming months and unit #4 which is also vacant. The property's exterior and walkways were recently pressure washed. The owner hired a professional painting company to paint the entire exterior, including trim, handrails, and all 6 garages. The roof was completely recoated with two coats of silicone that is warrantied up to 10 years. All these improvements have successfully revamped this gem into a beautiful, modern looking and easy to maintain property for the new owners. Rent will be raised on February 1st, 2025. Give us a call to discuss ADU potential. There is garage space for at least one if not two ADUs.
| DAYS ON MARKET | 236 | LAST UPDATED | 1/30/2025 |
|---|---|---|---|
| YEAR BUILT | 1960 | COMMUNITY | Playa Del Rey |
| COUNTY | Los Angeles | STATUS | Active |
| PROPERTY TYPE(S) | Residential Income |
| PRICE HISTORY | |
| Prior to Oct 7, '24 | $2,600,000 |
|---|---|
| Oct 7, '24 - Oct 29, '24 | $2,550,000 |
| Oct 29, '24 - Today | $2,500,000 |
| ADDITIONAL DETAILS | |
| AIR | None |
|---|---|
| AREA | Playa Del Rey |
| GARAGE | Assigned, Driveway Down Slope From Street, Paved, Yes |
| HEAT | None |
| LOT | 4864 sq ft |
| PARKING | Assigned,Driveway Down Slope From Street,Paved |
| STORIES | 2 |
| ZONING | LAR3 |
TOTAL MONTHLY PAYMENT
| SATELLITE VIEW |
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