Incredible opportunity in the vibrant city of Los Angeles! This charming 6-unit property offers a remarkable chance to enhance and expand your real estate portfolio. With an attractive 7.2% Cap Rate, this building, constructed in 1990 (buyer to do own diligence on RSO restrictions), showcases significant potential for multiple ADUs… Read More and substantial rental growth. Spanning a generous 8,309 square feet on an expansive 11,000 square foot lot, this property also boasts an astounding 12 parking spaces! It features four spacious 4-bedroom units, perfect for families, alongside two well-appointed 2-bedroom units. Larger, family-sized units like these consistently demonstrate more favorable expense ratios operating costs don't scale linearly with unit size meaning stronger net operating income and greater long-term efficiency for owners. Additionally, the property includes an assumable $1.55M loan with a remarkably low 3.17% interest rate locked through 2028 (with capped increases thereafter), resulting in substantial positive leverage. With a 65% Loan-to-Value (LTV) and a compelling 14.6% cash-on-cash return at the asking price, this offering embodies an exceptional investment profile. This is an unusual chance to secure today's pricing at a 7.2% cap rate, paired with interest rates from four years ago and a significantly favorable LTV - a combination virtually unheard of in today's market. Don't miss out on this outstanding opportunity! Read Less
Courtesy of Global Platinum Properties, Inc. 424-394-1030
Listing Snapshot
Days Online
12
Last Updated
Property Type
Other
Beds
20
Square Ft.
8,309
Lot Size
0.26 Acres
Year Built
1990
MLS Number
26686455
30 Days Snapshot Of 90043
$1.21M
-5%
(avg) sold price
8
-33%
homes sold
38
-47%
(avg) days on market
Snapshot
Area Map
Additional Details
Appliances & Equipment
None
Building
8,309 sq ft, Built in 1990, Levels: Two, Traditional
Cooling
Window Unit(s)
Disclosures
None
Garage
Assigned, Carport Attached
Heating
Wall
Lot
LotAcreage: 0.2608, LotSizeArea: 11,362
Parking
TotalParking: 12
Property
NumberOfUnits: 6, Zoning: LAR3
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