Your income-producing dream property 1 mile from BMO stadium and minutes from USC, the LA Memorial Coliseum, SoFi Stadium, and Downtown LA.
This is a well maintained 4-plex in West Adams District. Front unit is the larger original house, the other 3 units were added to the back around 1970 with permits. Rents are below market on two of the units and Drastically below on 1 other. All tenants are on month-to-month rental agreements. (See Unit details below). This property features individual electric and gas meters AND tenants are billed for Water and Trash usage. Property is conveniently located near transportation, shopping, downtown and USC. Could make a great student housing. 1 unit may be vacant upon sale. Unit 2 is completely remodeled including electrical, walls, floors, windows, bathroom and complete kitchen.
This is a great Investment opportunity with long term stable tenants and great upside potential. Unit 1 can be up to $3000 and other units can be up to $2,400 or so which makes this sales price a deal for you. This building is on a nice quiet and safe block with wide streets. Off street assigned parking and storage closet is included. Don't miss out on this opportunity. Call listing agent for more information.
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Unit 1 Information -
Actual Rent: $506,
Potential rent $3,200,
# of Baths Full: 1,
Total # of Bedrooms: 2-3,
Condition: Moderate,
Furnished: Unfurnished
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Unit 2 Information -
Actual Rent: $2,400,
# of Baths Full: 1,
Total # of Bedrooms: 2,
Condition: Excellent,
Furnished: Unfurnished
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Unit 3 Information -
Actual Rent: $1,683,
Potential rent $2,400,
# of Baths Full: 1,
Total # of Bedrooms: 2,
Condition: Good,
Furnished: Unfurnished
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Unit 4 Information -
Actual Rent: $1,530,
NOW VACANT
Potential rent $2,400,
# of Bathrooms Full: 1,
Total # of Beds: 2,
Condition: Good,
Furnished: Unfurnished
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Building Expenses -
Trash: $0 (Tenant paid),
Maintenance: $1,500,
Licenses: $427,
Insurance: $3,000,
Water Sewer: $0 (Tenants paid),
Gardener: $1,800
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Net Operating Income: $63,813
Total Building Area: 2,998
Gross Scheduled Income: $
Gross Operating Income: $71,040
# Of Separate Water Meters: 1
# Of Separate Gas Meters: 4
# Of Separate Electric Meters: 4
# Of Buildings: 2
Vacancy Allowance Rate: 3
Vacancy Allowance: 1217
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