Price Reduction! 10-unit building with 6 fully renovated units (1 vacant) Cash flowing at an amazing 7.4% Cap Rate from day 1 with upside to 11% Cap on Proforma. Fully Approved RTI plans to add 2 Attached ADUs to achieve a remarkable 9.3% Current Cap Rate, 13.1% Proforma Cap Rate,… Read More and only 205k/door after taking into account all constructions costs (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
Courtesy of Global Platinum Properties, Inc. 424-394-1030
Listing Snapshot
Days Online
68
Last Updated
Property Type
Other
Beds
10
Square Ft.
6,536
Lot Size
0.15 Acres
Year Built
1954
MLS Number
25550839
30 Days Snapshot Of 90057
$365k
0%
(avg) sold price
84
0%
(avg) days on market
Snapshot
Area Map
Additional Details
Appliances & Equipment
Refrigerator
Building
6,536 sq ft, Built in 1954, Levels: Two
Cooling
Ceiling Fan
Disclosures
None
Floors
Laminate, Ceramic Tile
Garage
Attached
Heating
Wall Electric
Lot
LotAcreage: 0.1461, LotSizeArea: 6,388
Parking
TotalParking: 8
Property
NumberOfUnits: 10, Zoning: LAC2
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