Property
Beds
14
Full Baths
None
1/2 Baths
None
Year Built
1950
Sq.Footage
5,334
Price Reduction! 14 existing Renovated units + plans for 20 new units cash flowing at an amazing current Cap Rate of 6.5% from day 1. Attractive 2.6M assumable loan at an incredibly low rate of 3.9% fixed through 09/01/2027. Preliminary plans to add 20 new units to achieve an unheard 12% Cap Rate, 6.5 GRM, and only 166k/unit after taking into account all the construction costs (~1.7M assuming $250/SF). The preliminary plans call for 8 detached ADUs in the back + 5 attached ADUs in the front + 7 new units in the front for a total of 20 new units. The 14 existing units have undergone many capital improvements including updated roof, electrical, plumbing, windows, interiors, exteriors, etc.
Features & Amenities
Interior
-
Total Bedrooms
14
Area & Lot
-
Lot Size(acres)
0.2067
-
Property Type
Residential Income
Exterior
-
Garage
No
-
Parking
Gated, Unassigned
Financial
-
Sales Price
$3,950,000
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Location
County
Los Angeles
Elementary School
Middle School
High School
Listing Courtesy of Armin Soleimani , Global Platinum Properties, Inc.
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