Description

• 2nd Price Reduction! Renovated 10-unit building with plans for 6 additional units cash flowing at an amazing 6.5% Cap Rate from day 1 with upside to 9% Cap on Proforma. Preliminary plans to add 6 new units in the garages to achieve a remarkable 11% Current Cap Rate, 13.4% Proforma Cap Rate, and only 179k/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. 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 neighborh
• Price on a 10-unit building with 6 renovated units (1 vacant), offering strong cash flow at a 6.5% Cap Rate from day one, with potential to reach 9% based on proforma.
• Fully approved plans to add two attached ADUs could boost current Cap Rate to 11% and proforma to 13.4%, costing about $179k per door.
• All units are individually metered, tenants pay trash, and 8 vacant garages offer additional income and ADU development.
• Plans for two ADUs in garages might reduce or eliminate soft-story work and costs.
• Located in trendy Filipino Town, minutes from Echo Park, Silverlake, DTLA, and popular spots like Brooklyn Bagel, Boba Guys, HiFi Kitchen, and Laveta Coffee amid vibrant attractions.