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Great cash flow property with huge upside too. 7.5% cash on cash return with current rents and management fee included, 7.1% cap rate. Many upgrades over the years including, Newer roof on both buildings, Copper water pipes, Vinyl windows, new external stairs to top unit in the back building. Possible conversion of garages currently used for storage to ADU to make 7 or 8 units, check with city for allowances. Located in a strong rental area in South Central Area with a great unit mix of five 3 Bdrm and 1 Bath units. Walkable score of 83. Property is separate metered for Gas and Electric and consists of two buildings, a 4-plex up front and duplex along with a 4 car garage in the back. Front 4 units have been converted to 3 bedrooms but third bedroom can easily be used as a living room as well, Buyer to verify permits for all changes and improvements. Market rents shown are for Section 8 approved 2 bedroom units. Garages currently used for storage.
Property Type(s):
Residential Income
| Last Updated | 11/18/2024 | Year Built | 1954 |
|---|---|---|---|
| Community | Not Defined | County | Los Angeles |
Additional Details
| AIR | None |
|---|---|
| AREA | Not Defined |
| GARAGE | None |
| HEAT | Wall Furnace |
| HOA DUES | 0 |
| LOT | 6981 sq ft |
| LOT DESCRIPTION | 6-10 Units/Acre |
| PARKING | None |
| POOL DESCRIPTION | None |
| SEWER | Public Sewer |
| STORIES | 1 |
| UTILITIES | Electricity Connected,Natural Gas Connected,Sewer Connected,Water Connected |
| WATER | Public |
| ZONING | LAC2 |
Location
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Listed with Bell Realty Group
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