116 Rees Street

Playa Del Rey , CA 90293

MLS#: 25604737

$1,825,000

Status: Active
Listing number: 25604737
Listing provided by: Watkins Realty & Investments
Listing agent phone: None
Last update: a day ago
New on site 2 days ago
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Property

Beds

6

Full Baths

None

1/2 Baths

None

Year Built

1956

Sq.Footage

2,328

Own a Duplex a few Yards from the Beach in Beautiful Playa Del Rey ! Top Unit is 4 Bed / 2 Bath and Lower Unit is 3 Bed 2 Bath. Each Unit has a Garage, 1 Balcony and Patio, and a over 1,300 SQ Feet of Living Space. One Unit Can Be Delivered Vacant. Motivated Seller

Features & Amenities

Interior

  • Other Interior Features

    Ceiling Fan(s)

  • Total Bedrooms

    6

  • Bathrooms

    N/A

  • Cooling YN

    NO

  • Cooling

    None

  • Fireplace YN

    NO

  • Heating YN

    YES

  • Heating

    Baseboard

  • Pet friendly

    N/A

Exterior

  • Garage

    No

  • Parking

    Garage

  • Pool

    No

  • View

    Water

Area & Lot

  • Lot Size(acres)

    0.0586

  • Property Type

    Residential Income

Price

  • Sales Price

    $1,825,000

  • Sq. Footage

    2, 328

  • Price/SqFt

    $783

HOA

  • Association

    NO

School District

  • Elementary School

    N/A

  • Middle School

    N/A

  • High School

    N/A

Property Features

  • Stories

    2

  • Senior Community YN

    NO

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Location

County

Los Angeles

Elementary School

Middle School

High School

Listing Courtesy of Martin Watkins , Watkins Realty & Investments

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Own a Duplex a few Yards from the Beach in Beautiful Playa Del Rey ! Top Unit is 4 Bed / 2 Bath and Lower Unit is 3 Bed 2 Bath. Each Unit has a Garage, 1 Balcony and Patio, and a over 1,300 SQ Feet of Living Space. One Unit Can Be Delivered Vacant. Motivated Seller

116 Rees Street

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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, one 2-bedroom/1.5-bathroom unit, one 2-bedroom/1-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 $2,100,000 equating to $350,000 per unit and $425 per rentable square foot. The property currently generates $14,166 per month and $169,993 per year in rental income, with a potential increase to $18,115 per month and $217,380 per year at market rent levels, reflecting a significant 28% rental upside potential. All tenants are currently on MTM leases with the exception of unit #4 which is currently 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. Give us a call to discuss ADU potential. There is garage space for at least one if not two ADUs.
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