Description
Huge 400k Price drop alert! 14-unit value-add opportunity with a remarkable Current Cap Rate of 6.5% and 11.1 GRM and an incredible 65% upside potential to 12.1% Cap Rate and 6.6 GRM on proforma. Located in prime Mid City, this property is offered at an unbelievable price of only 199k/unit and $323/SF, making it too good to pass up. Plus, there are Fully Approved RTI plans to add 3 Attached ADUs to improve the numbers to only 164k/unit, 8.8% Cap Rate, and 8.5 GRM on current. 4 of the units have been already fully remodeled with permits and boast new modern cabinets, flooring, lighting, new bathrooms, and significant exterior improvements. Additionally, each unit is individually metered for gas and electricity while tenants cover garbage fees - saving you money on utilities from day one. The large 10,015 SF lot comes complete with gated parking spaces that can accommodate up to twelve cars and requires no soft-story retrofitting. Nearly RTI plans have already been drafted to add 2 additional Detached ADUs over the carport - adding even more income-generating potential! And let's not forget about its unbeatable location near popular neighborhood attractions like Alibi Coffee Co. , Starbucks, Koreatown, DTLA, Culver City, and public transportation options all while being in close proximity to major freeways ensuring smooth travel times within Los Angeles city limits. Don't wait another moment to grab this rare opportunity before it slips away!
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Data maintained by MetroList® may not reflect all real estate activity in the market. All information has been provided by seller/other sources and has not been verified by broker. All measurements and all calculations of area (i.e., Sq Ft and Acreage) are approximate. All interested persons should independently verify the accuracy of all information. All real estate advertising placed by anyone through this service for real properties in the United States is subject to the US Federal Fair Housing Act of 1968, as amended, which makes it illegal to advertise "any preference, limitation or discrimination because of race, color, religion, sex, handicap, family status or national origin or an intention to make any such preference, limitation or discrimination." This service will not knowingly accept any advertisement for real estate which is in violation of the law. Our readers are hereby informed that all dwellings, under the jurisdiction of U.S. Federal regulations, advertised in this service are available on an equal opportunity basis. Updated: 3rd December, 2023 4:42 PM (UTC)
Data maintained by MetroList® may not reflect all real estate activity in the market. All information has been provided by seller/other sources and has not been verified by broker. All measurements and all calculations of area (i.e., Sq Ft and Acreage) are approximate. All interested persons should independently verify the accuracy of all information. All real estate advertising placed by anyone through this service for real properties in the United States is subject to the US Federal Fair Housing Act of 1968, as amended, which makes it illegal to advertise "any preference, limitation or discrimination because of race, color, religion, sex, handicap, family status or national origin or an intention to make any such preference, limitation or discrimination." This service will not knowingly accept any advertisement for real estate which is in violation of the law. Our readers are hereby informed that all dwellings, under the jurisdiction of U.S. Federal regulations, advertised in this service are available on an equal opportunity basis. Updated: 3rd December, 2023 4:42 PM (UTC)
Listing Agent: Julio Ruiz
Listing Office: Global Platinum Properties, Inc.
