PRICE REDUCTION! 14 Existing Renovated units + plans for 20 new market-rate units cash flowing at an amazing Current Cap Rate of 8% from day 1! Attractive 2.5M assumable loan (requiring only ~17% down) at an incredibly low rate of 3.9% fixed through 09/01/2027 yielding a remarkable 15.7% cash-on-cash return.… Read More Preliminary plans to add 20 new market-rate units to achieve an unheard of 14.3% Cap Rate, 5.6 GRM, and only 141k/unit after taking into account all the construction costs (~1.7M assuming $250/SF). The project is anticipated to deliver over $2.7MM in net profit after all construction and resale costs, yielding an exceptional 125.9% return on levered equity. The plans call for 8 detached ADUs in the back + 5 attached ADUs in the front + 7 new units by right 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. Read Less
Property listed by Houze Real Estate Management, Kelly Morgan 323-852-1372
Listing Snapshot
Days Online
8
Last Updated
Beds
13
3/4 Baths
14
Square Ft.
5,334
Lot Size
0.21 Acres
MLS Number
26866525
Additional Details
Building
Living area: 5334.0, 1 building, 2 stories, Levels: Two
Cooling
WallWindowUnits
Heating
WallFurnace
Income
Gross Income: $333,766, Net Operating Income: $251,914
Lot
0.2066 acres
Parking
14 total parking spaces, Gated, Uncovered
Taxes
Parcel Number: UNAVAILABLE
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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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