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TRUST SALE – LOS ANGELES

LOS ANGELES, CA 90033

Property Type: Commercial

Property Description

TRUST SALE  –  FIXER

1601 E. 4TH STREET

EAST LOS ANGELES

COMMERCIAL STORE FRONT + 2 RESIDENTIAL UNITS

BROCHURE #362

NO COURT CONFIRMATION

LOCATION:   1601 E. 4TH STREET, LOS ANGELES, CA90033  APN 5172-024-010

DIRECTIONS:   THOMAS GUIDE (L.A.COUNTY) P. 634, J-5. WEST OF 101 FREEWAY. NORTH EAST CORNER OF 4TH STREET & GLESS STREET. SHOW ME A MAP

DESCRIPTION:   MIXED USE PROPERTY. COMMERCIAL BUILDING + 2 (2) BEDROOM, 1 BATH UNITS ON A CORNER LOT WITH REAR ALLEY. A PORTION OF THE COMMERCIAL BUILDING HAS A SECTION CURRENTLY SUBLET AS A RESIDENTIAL UNIT (1 BEDROOM, 1 BATH). BALANCE OF THE COMMERCIAL BUILDING INCLUDES 2 BATHROOMS. SEPARATE GAS & ELECTRIC METERS FOR EACH UNIT & COMMERCIAL BUILDING. 1 WATER METER FOR COMMERCIAL BUILDING. 1 WATER METER FOR THE 2 UNITS. GREAT INCOME FIXER PROPERTY. CLOSE TO SCHOOLS, SHOPPING, 101 & 5 FREEWAYS & DOWNTOWN LOS ANGELES. PERSONAL PROPERTY NOT INCLUDED IN SALE. DO NOT DISTURB TENANTS.  NO COURT CONFIRMATION.

INCOME:   MONTHLY INCOME FOR COMMERCIAL BUILDING
                        1601 E. 4TH STREET  –  $1,008.
                        **1603 E. 4TH STREET  –  SUBLET

                        MONTHLY INCOME FOR RESIDENTIAL UNITS
                        366 GLESS STREET (MIDDLE UNIT) $527.
                        364 GLESS STREET (REAR UNIT) $597.
                        * ALL OCCUPANCY MONTH TO MONTH  –  NO LEASES
                        **TENANT IN 366 GLESS STREET IS THE
                        CONTROLLING ENTITY
FOR 1601/1603 E. 4TH STREET.
                        OWNER OF THE PROPERTY DOES NOT RECEIVE
                        SUBLET RENTAL INCOME OF APPROXIMATELY
                        $800 (NOT VERIFIED).

EXPENSES:    PAID BY SELLER
                               WATER/TRASH FOR 364 & 366 GLESS STREET.

LOT SIZE:   3,920± SQ. FT.

ZONED:   LA C1      SUBJECT TO GENERAL PLAN CONFIRMATION

TAXES:   PROPOSITION 13

PONCE TRUST

TERMS:   CASH. BUYER TO OBTAIN OWN FINANCING. FINANCING IS NOT A CONTINGENCY TO THIS SALE. PROPERTY SOLD IN “AS IS” CONDITION WITH NO CONTINGENCIES WHATSOEVER. PROPERTY SOLD SUBJECT TO ACCEPTANCE OR REJECTION BY THE TRUSTEE.

ESCROW PERIOD:   45 DAYS OR SOONER

DEPOSIT:   $10,000 CASH OR CASHIER’S CHECK REQUIRED TO BID. BALANCE OF 10% DEPOSIT BY PERSONAL CHECK. CASHIER’S CHECK SHOULD BE MADE PAYABLE TO FLANS & WEINER, INC.. IN THE EVENT YOUR BID IS REJECTED, DEPOSIT WILL BE REFUNDED WITHOUT INTEREST.

TITLE:   SELLER TO PROVIDE STANDARD TITLE POLICY.

               PLEASE CALL FLANS & WEINER, INC. IF YOU HAVE ANY QUESTIONS REGARDING THIS PROPERTY OR THE AUCTION PROCESS (818) 501-4888.