*Financial Metrics* - 5.25% Cap Rate, 10.86 GRM, 110% Upside. Potential to reach a 9.01% Cap Rate post-ADU addition. *Property Features* - All one bedrooms may be converted into two bedrooms. Two units are currently delinquent on rent and have been served 3-Day Notices. Buyer will assume responsibility for… Read More any eviction, providing the opportunity to convert and re-rent these units at higher market rates. Plans will be provided. *ADU Potential* - Add one ADU in the tuck-under parking area by restriping parking against the rear wall unlocking additional income and value. *Unit Mix* - 6 total units: 5 (1+1) and 1 (3+2) that is currently vacant. *Location Benefits* - Located less than half a mile from the current Orange Line Transit Stop and future Van Nuys East Valley Rail Line hub a major transit expansion linking the Valley with the greater LA region. *Walk Score* - Very Walkable 78 Walk Score. Most errands can be accomplished on foot. *Owner Occupy* - The spacious 3+2 unit is currently vacant, offering flexibility for owner-users or immediate lease-up for investors. Read Less
Property listed by Houze Real Estate Management, Kelly Morgan 310-259-7556
Listing Snapshot
Days Online
388
Last Updated
Beds
8
Square Ft.
5,060
Lot Size
0.14 Acres
Year Built
1957
MLS Number
25545333
Additional Details
Building
Built in 1957, Living area: 5060.0, 1 building, 2 stories, Levels: Two
Heating
WallFurnace
Income
Gross Income: $152,428, Net Operating Income: $103,198
Lot
0.1435 acres
Parking
8 total parking spaces, AttachedCarport
Taxes
Parcel Number: 2240024008, Zoning: LAR3
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Based on information from California Regional Multiple Listing Service, Inc. as of and/or other sources. 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.
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