Description
4.75% Cap Rate & 14.8 GRM + 42% upside in Net Income! Originally built in 1962, the 2-storyproperty has undergone an extensive renovation including 4 renovated units and 2 newly constructed units, with a full copper repipe, a brand new electrical system, and complete roof replacement. This 11-unit building features an incredible unit mix of (1) Studio, (1) 1 Bed+1 Bath, (1) 1 Bed+1 Bath+Yard, (6) 2 Bed+2 Bath , (1) 3 Bed+2 Bath, and (1) 3 Bed+3 Bath. The 6 renovated/new units feature in unit laundry and kitchens equipped with stainless steel appliances, new cabinets, quartz-stone countertops, and modern tiled back-splashes. This Westside Location attracts young professionals wanting to live close to the beach, trendy streets shopping and dining, and a short drive to big tech and entertainment headquarters like Sony Studios, Snap Inc, and Youtube. The property offers stable day 1 cash flow with substantial upside with the 5 non-renovated units, and accelerated appreciation in this terrific Westside location, as well as the potential to achieve a 6.75% cap rate and 11.3 GRM.
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20BEDS
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0.16ACRES
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0BATHS
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01/2 BATHS
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8,899SQFT
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$523$/SQFT
School Ratings & Info
Description
4.75% Cap Rate & 14.8 GRM + 42% upside in Net Income! Originally built in 1962, the 2-storyproperty has undergone an extensive renovation including 4 renovated units and 2 newly constructed units, with a full copper repipe, a brand new electrical system, and complete roof replacement. This 11-unit building features an incredible unit mix of (1) Studio, (1) 1 Bed+1 Bath, (1) 1 Bed+1 Bath+Yard, (6) 2 Bed+2 Bath , (1) 3 Bed+2 Bath, and (1) 3 Bed+3 Bath. The 6 renovated/new units feature in unit laundry and kitchens equipped with stainless steel appliances, new cabinets, quartz-stone countertops, and modern tiled back-splashes. This Westside Location attracts young professionals wanting to live close to the beach, trendy streets shopping and dining, and a short drive to big tech and entertainment headquarters like Sony Studios, Snap Inc, and Youtube. The property offers stable day 1 cash flow with substantial upside with the 5 non-renovated units, and accelerated appreciation in this terrific Westside location, as well as the potential to achieve a 6.75% cap rate and 11.3 GRM.
Based on information from the Combined LA/Westside Multiple Listing Service as of 2022-05-29T06:43:13.563. 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.