Amazing Current Cap Rate of 7.3% and 10 GRM with 43% upside to 11% Cap Rate and 7.2 GRM on proforma! Now offered with Higher Rents and 2 New Vacancies. Value-Add 10-unit building with 4 Fully renovated units with permits and 2 upcoming vacancies that can be renovated and leased… Read More for $2,407 per month (Previous rents were only $808). Priced at only $220k/door and $336/SF plus Fully Approved RTI plans to add 2 attached ADUs to improve the numbers to only 183k/unit, 10% Cap Rate, and 7.7 GRM on Current with upside to 14% Cap Rate and 5.8 GRM on Proforma after ADUs. 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. 4 units have been fully remodeled with permits and boast new modern cabinets, flooring, lighting, new bathrooms, and significant exterior improvements. This property is located in the 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
Property listed by Global Platinum Properties, Inc., Armin Soleimani 424-394-1030
Listing Snapshot
Days Online
0
Last Updated
Property Type
Other
Beds
10
Square Ft.
6,536
Lot Size
0.15 Acres
Year Built
1954
MLS Number
24463489
30 Days Snapshot Of 90057
$524k
-28%
(avg) sold price
2
-33%
homes sold
40
-44%
(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: $218,136, Net operating income: $160,545
Lot
0.1466 acres, 6,388 square feet, Size: 6,388
Parking
8 totals parking
Property
Zoning: LAC2
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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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