Exceptional Investment Opportunity High Cap Rate with Upside Potential! Assumable loan of $1,950,000 fixed for 2 years @ 5.75%.This property offers a 6.03% in-place cap rate and 9.95 GIM, with upside to a 9.44% cap rate and 7.37 GIM. Adding two ADUs (Buyer to Verify) increases performance to a 6.65% cap rate, 9.11 GRM, and a remarkable 6.13% pre-tax cash flow with no additional turnover. Highlights: - 15.07% IRR potential with ADUs - Dual pane windows for efficiency The building includes 14 units: 2 bachelor units, 5 one-bedroom/one-bath units, 1 two-bedroom/one-bath unit, 4 two-bedroom/two-bath units, and 2 three-bedroom/two-bath units. Units 10 and 11 (the 3+2s) feature a unique layout with a door connecting the master bedroom to the main unit. This configuration allows the master bedrooms to be rented separately, with the city's approval, provided the connecting door remains in place. Contact us today to learn more or schedule a tour!
Total Floor Area:
10,620 sq. ft.987 m2
Lot Area:
11,804 sq. ft.1,097 m2
Lot Details:
100x118
Bedrooms:
19
Full Bathrooms:
0
Three Quarter Bathrooms:
0
Half Bathrooms:
0
One Quarter Bathrooms:
0
Bathrooms:
20.0
(Full:0, Half:0)
Year built:
1961
(Age: 64)
General Listing Location:
Harbor City, 124 - Harbor City
County Or Parish:
Los Angeles
Gross Income:
$311,439
Net Operating Income:
$186,986
Cap Rate %:
6.03
Vacancy Allowance Rate:
$0
East of Western Ave, West of President Ave, South of 249th St, North of 251st St