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$2,395,000
Est. payment /mo
10 Beds
10 Baths
6,536 SqFt
UPDATED:
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 6,536 sqft
Price per Sqft $366
MLS Listing ID 26851443
Bedrooms 10
HOA Y/N No
Year Built 1954
Lot Size 6,385 Sqft
Property Description
3rd Price Reduction and Now with Fully Approved RTI Plans! Renovated 10-unit building with RTI plans for 6 additional units cash flowing at an amazing 6.75% Cap Rate from day 1 with upside to 9.25% Cap on Proforma. RTI plans to add 6 new units in the garages to achieve a remarkable 11.3% Current Cap Rate, 13.7% Proforma Cap Rate, and only 175k/door after taking into account all construction costs (~415k assuming $300/SF). All units are individually metered for Electricity and gas, and tenants pay for Trash. Rare 8 vacant single Car Garages for additional income and ADU potential. RTI Plans for additional units in the garages will eliminate/reduce the soft-story scope of work and cost. Easy to rent unit mix consisting of 10 large (1 bed/1 bath) units. 6 units have been fully remodeled and boast new modern cabinets, flooring, lighting, new bathrooms, and significant exterior improvements. This property is located in the trendy & historic Filipino Town just minutes away from Echo Park, Silverlake, DTLA as well as many hip neighborhood attractions, restaurants, bars, and shops such as Brooklyn Bagel Bakery, Boba Guys - Rideback Ranch, HiFi Kitchen, and Laveta Coffee, popping up all around the area.
Location
State CA
County Los Angeles
Area C42 - Downtown L.A.
Zoning LAC2
Interior
Flooring Laminate
Fireplace No
Appliance Refrigerator
Exterior
Total Parking Spaces 8
Building
Story 2
Entry Level Two
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 5154006009
Special Listing Condition Standard
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Listed by Julio Ruiz Global Platinum Properties, Inc. #01911261
NEARBY SCHOOL & BUSINESS
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Sharlotte Blake
Broker Associate | License ID: 02035876
Broker Associate License ID: 02035876
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