Property listed by Global Platinum Properties, Inc., Armin Soleimani 424-394-1030
$1,825,000
2nd Price Reduction! Large 7,152 SF 8-Unit value-add building cash flowing at a Current 4.5% Cap Rate with a whopping 97% upside to a 11% Cap on Proforma! Attractively priced at only $228k/unit for entirely 2-bedroom units and only $255/SF. Large 9,500 SF lot with plans to add 8 detached… Read More ADUs to achieve an incredible 9.7% Current Cap Rate, 14.2% Proforma Cap, $158k/unit, and only $258/SF after taking into account all the construction costs (~715k assuming $250/SF). The exterior of the property has undergone detailed renovations and features on-site parking as well as an updated laundry room. Electricity and gas are individually metered which minimizes operating expenses. Prime Mid-City location just minutes away from Beverly Hills, Culver City, West Adams, as well as many hip neighborhood attractions, restaurants, bars, shops, such as Cento Pasta Bar, The Blending Lab Winery, Tartine Bakery, Farmhouse Kitchen Thai Cuisine, Mu. S Coffee, Cumulus luxury 31-story 1,210 unit mixed-use project, 260 units Habitat Residences campus with retail and creative office, and much more. Read Less
Listing Snapshot
Days Online
6
Last Updated
Beds
16
3/4 Baths
8
Square Ft.
7,152
Lot Size
0.22 Acres
Year Built
1965
MLS Number
26102592
Additional Details
Building
Built in 1965, Living area: 7152.0, 1 building, 2 stories, Levels: Two
Heating
WallFurnace
Income
Gross Income: $128,712, Net Operating Income: $82,180
Lot
0.2181 acres
Parking
Gated
Taxes
Parcel Number: 5063023008, Zoning: LARD1.5
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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.
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