Property listed by Global Platinum Properties, Inc., Armin Soleimani 424-394-1030
$2,150,000
Huge Price Reduction! 10-unit building with 6 fully renovated units (2 vacant) Cash flowing at an amazing 7.75% Cap Rate from day 1 with upside to 10.5% Cap on Proforma. Fully Approved RTI plans to add 2 Attached ADUs to achieve a remarkable 9.6% Current Cap Rate, 12.3% Proforma Cap… Read More Rate, and only 202k/door after taking into account all constructions costs (~276k assuming $200/SF). All units are individually metered for Electricity and gas, and tenants pay for Trash. Rare 8 vacant single Car Garages for additional income and ADU potential. RTI plans to add 2 Attached ADUs in the garages will eliminate/reduce the soft-story scope of work and cost. Easy to rent unit mix consisting of 10 large (1 bed/1 bath) units. 6 units have been fully remodeled and boast new modern cabinets, flooring, lighting, new bathrooms, and significant exterior improvements. This property is located in the trendy & historic Filipino Town just minutes away from Echo Park, Silverlake, DTLA as well as many hip neighborhood attractions, restaurants, bars, and shops such as Brooklyn Bagel Bakery, Boba Guys - Rideback Ranch, HiFi Kitchen, and Laveta Coffee, popping up all around the area. Read Less
Listing Snapshot
Days Online
44
Last Updated
Property Type
Other
Beds
10
Square Ft.
6,536
Lot Size
0.15 Acres
Year Built
1954
MLS Number
25583225
30 Days Snapshot Of 90057
$557k
-5%
(avg) sold price
5
0%
homes sold
117
-2%
(avg) days on market
Snapshot
Area Map
Additional Details
Appliances & Equipment
Refrigerator
Building
Built in 1954, Building area total: 6,536, Levels: Two, Living area: 6536, 2 stories, 1 building
Floors
Laminate
Income
Gross income: $225,310, Net operating income: $166,546
Lot
0.1466 acres, 6,388 square feet, Size: 6,388
Parking
8 totals parking
Property
Zoning: LAC2
Find The Perfect Home
'VIP' Listing Search
Whenever a listing hits the market that matches your criteria you will be immediately notified.
Based on information from California Regional Multiple Listing Service, Inc. as of and/or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
Confirm your time
Fill in your details and we will contact you to confirm a time.
