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This is a 10% interest as a Tenant in Common with 3 other owners who own the remaining 90%. One of a kind Charming Spanish Adobe Style 6 unit 1920's apartment complex. Situated on a large corner lot in a quiet residential neighborhood with tree lined streets. All units are 1 bedroom 1 bath, and several have been remodeled, but have retained the charm and character of the 1920's with ceramic tile in the kitchens and bathrooms, and hardwood floors. There are 4 garages on the side of the property. The property is valued at $1,700,000 and has a TIC Agreement with the three other owners. There is an existing loan with a balance of $575,000 and bears an interest rate of 4.75%. The monthly payment is $3,129.88 of which $2,284.96 was interest and $844.92 was principal reduction as of the May 2025 Mortgage Statement. The loan is a fully amortizing loan that matures on October 1, 2052 so there is no balloon payment. When taking 10% of the NOI of $9,322 and deducting 10% of the annualized Mortgage Payment ($3,759), and then adding back principal reduction of $1,013, the total return is approximately $6,576 or 5.85% on the required cash equity investment of $112,500 and assuming $57,500 of the loan for 10% ownership as a Tenant in Common.
Property Type(s):
Residential Income
| Last Updated | 7/15/2025 | Year Built | 1928 |
|---|---|---|---|
| Community | 618 - Eagle Rock | Garage Spaces | 4.0 |
| County | Los Angeles |
Additional Details
| AIR | Wall/Window Unit(s) |
|---|---|
| AIR CONDITIONING | Yes |
| APPLIANCES | Gas Oven, Gas Range |
| AREA | 618 - Eagle Rock |
| GARAGE | Yes |
| HEAT | Floor Furnace |
| LOT | 8172 sq ft |
| PARKING | Garage, Garage Faces Side |
| POOL DESCRIPTION | None |
| SEWER | Public Sewer |
| STORIES | 1 |
| UTILITIES | Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected |
| VIEW | Yes |
| VIEW DESCRIPTION | Neighborhood |
Location
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Listed with Re/Max Commercial & Investment
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