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Description
Huge 500k Price Reduction! 18 Unit building plus 4 Attached RTI ADUs with 8 renovated vacancies priced at only 285k/door. All vacant units and ADUs are under construction so buyers can complete them with their own taste/finishes. (Remodels are in the final stages, ADUs just started). Incredible Current 6.1% Cap Rate and 11.8 GRM with an upside to 8.6% Cap Rate and 9.1 GRM. Easy to Rent Unit Mix consisting of 2 (2bed/2bath), 2 (2bed/1bath), 16 (1bed/1bath). Individually metered for Gas & Electricity, parking with soft-story already completed, and prelim plans for 2 Detached ADUs for future upside. Excellent opportunity to acquire a turnkey apartment building in one of LA's hottest neighborhoods in Highland Park just steps away from all the hip restaurants, bars, and shops on the Famous York Blvd. Price/Unit, Cap Rate, & GRM are based on Total Price for sake of conservatism, which includes construction costs of 4 attached RTI ADUs 1,470 SF at 200/SF (294k).
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Listing Agent: Julio Ruiz Courtesy of: Global Platinum Properties, Inc. Office phone: 818-524-0706 Based on information from CRISNet MLS 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. Updated: 27th January, 2023 8:15 PM (UTC)
