Price Reduction! Renovated 20-unit apartment building cash flowing at an amazing Current 8.5% Cap Rate from day 1! Fully Approved RTI plans to add 4 attached ADUs to achieve a remarkable 10.5% Cap Rate after taking into account all constructions costs (~322k assuming $350/SF). The property features 20 Spacious and… Read More easy to rent studios each with their own separate kitchen and bathrooms. Almost every single unit (95%) has been upgraded with updated cabinets, flooring, kitchens, bathrooms, as well as exterior improvements including renovated hallways. The property also offers an on-site laundry room, which could be re-opened to generate additional income. Located in the heart of Westlake, just steps away from trendy Echo Park, FilipinoTown, DTLA, and Koreatown. Highly walkable area surrounded by shops, restaurants, and major transit lines, the property combines steady cash flow with exceptional long-term upside in a prime urban corridor. Read Less
Property listed by Global Platinum Properties, Inc., Armin Soleimani 310-259-7556
Listing Snapshot
Days Online
48
Last Updated
Square Ft.
7,700
Lot Size
0.12 Acres
Year Built
1922
MLS Number
26830501
Additional Details
Building
Built in 1922, Living area: 7700.0, 1 building, 2 stories, Levels: Two
Heating
WallFurnace
Income
Gross Income: $479,588, Net Operating Income: $361,694
Lot
0.1243 acres
Parking
None
Taxes
Parcel Number: 5152003013, Zoning: LACW
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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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