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Exceptional Investment Opportunity High Cap Rate with Upside Potential! Assumable loan of $1,950,000 fixed for 2 years @ 5.75%.This property offers a 6.03% in-place cap rate and 9.95 GIM, with upside to a 9.44% cap rate and 7.37 GIM. Adding two ADUs (Buyer to Verify) increases performance to a 6.65% cap rate, 9.11 GRM, and a remarkable 6.13% pre-tax cash flow with no additional turnover. Highlights: - 15.07% IRR potential with ADUs - Dual pane windows for efficiency The building includes 14 units: 2 bachelor units, 5 one-bedroom/one-bath units, 1 two-bedroom/one-bath unit, 4 two-bedroom/two-bath units, and 2 three-bedroom/two-bath units. Units 10 and 11 (the 3+2s) feature a unique layout with a door connecting the master bedroom to the main unit. This configuration allows the master bedrooms to be rented separately, with the city's approval, provided the connecting door remains in place. Contact us today to learn more or schedule a tour!
Property Type(s):
Residential Income
| Last Updated | 1/31/2025 | Year Built | 1961 |
|---|---|---|---|
| Community | Harbor City | County | Los Angeles |
Additional Details
| AIR | Wall/Window Unit(s) |
|---|---|
| AIR CONDITIONING | Yes |
| AREA | Harbor City |
| GARAGE | Covered, Uncovered |
| HEAT | Wall Furnace |
| LOT | 0.27 acre(s) |
| LOT DIMENSIONS | 100x118 |
| PARKING | Covered,Uncovered |
| STORIES | 2 |
| ZONING | LAR3 |
Location
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Listed with KW Advisors
The information being provided by Conejo Simi Moorpark Association of REALTORS® (“CSMAR”) is for the visitor's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. Any information relating to a property referenced on this web site comes from the Internet Data Exchange (“IDX”) program of CSMAR. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. Any information relating to a property, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. The data contained herein is copyrighted by CSMAR and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.
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