2nd Price Reduction! Renovated 10-unit building with plans for 6 additional units cash flowing at an amazing 6.5% Cap Rate from day 1 with upside to 9% Cap on Proforma. Preliminary plans to add 6 new units in the garages to achieve a remarkable 11% Current Cap Rate, 13.4% Proforma… Read More Cap Rate, and only 179k/door after taking into account all construction costs (~415k assuming $300/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. Plans for additional units 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
14
Last Updated
Property Type
Other
Beds
10
Square Ft.
6,536
Lot Size
0.15 Acres
Year Built
1954
MLS Number
26679327
30 Days Snapshot Of 90057
$325k
0%
(avg) sold price
0
-100%
homes sold
112
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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