Description

860 N Vista St. is a triplex that's perfect for an owner-user looking to live in the massive front house and have rental income from the other two units. Originally built in 1938, the footprint of the improvements is massive at 7,744 SF which is considerably larger than what the City of Los Angeles will allow you to build today on a 7,000 SF lot. This uniqueness of this property is the number of bedrooms in the main house and the size of the large footprint/improvements. The main house is 2-stories and features +/- 6,000 SF of living space with a dining area, multiple family rooms, kitchen, 6 large bedrooms and 5 bathrooms. On the second level there is an additional living room, small kitchen and separate entrance. Inclusive of the main house square footage are Units A & B*. Unit #A* is currently occupied and rented at $1,395/month. This unit was sectioned off and rented as its own space, however, new ownership could potentially add this space back to the main house as either a living room or another bedroom. Unit #B is a smaller 1 Bedroom/1 Bath that is currently vacant. 7416 Willoughby is a 1-bed/1-bath unit that sits above the garages and is rented for $2,150/month. This block of Vista St. has many new ground-up developments of single-family homes selling well north of $4 million dollars - $800 to $1,000 per square foot. Why purchase this property? 1) New houses in the area are 5,000 sq. ft., the main house at 860 N. Vista is 20% larger at +/- 6,000 sq. ft. 2) The price per square foot is very inexpensive at $553 compared to $800 - $1000 3) This property has income from the other two units to help offset expenses with a traditional home a Buyer bears all expenses with no income. The main house could also potentially be used as a Sober Living/Rehab Facility or as a multi-family building.