Property listed by Global Platinum Properties, Inc., Julio Ruiz 424-394-1030
$4,350,000
Huge ~500k Price Reduction! Once in a lifetime 100% Fully Renovated 14-unit apartment building cash flowing at an amazing 6.5% Cap Rate from day 1! Plans to add 8 detached ADUs to achieve a remarkable 9.1% Cap Rate after taking into account all construction costs (~775k assuming $300/SF). All 14… Read More units have been completely vacated and remodeled, boasting a high-end aesthetic with new modern cabinets, flooring, lighting, new bathrooms, HVAC systems as well as major exterior capital improvements. Diverse unit mix of 8 (1bed/1bath) units, and 4 (2bed/1bath) units. Additionally, the major systems have been updated, including electrical, plumbing, windows, etc. Individually Metered for Gas & Electricity. Large 8,283 SF R4-1 Lot TOC Tier 2 with future development potential. 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
Listing Snapshot
Days Online
48
Last Updated
Beds
18
Square Ft.
6,874
Lot Size
0.19 Acres
Year Built
1950
MLS Number
26657319
Additional Details
Building
Built in 1950, Living area: 6874.0, 1 building, Levels: Two
Heating
WallFurnace
Income
Gross Income: $385,595, Net Operating Income: $282,692
Lot
0.1902 acres
Parking
6 total parking spaces, Gated
Taxes
Parcel Number: 5154001012, Zoning: LAR4
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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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