Huge 450k Price Reduction! Value-Add 12 Unit building with 4 Fully Renovated units (2 vacant) in the highly coveted Mid-City area priced at only 262k/door and $344/SF. Amazing Current Cap Rate of 5% and 13.8 GRM with an incredible 85% upside to 10.7% Cap Rate and 7.5 GRM on proforma. The property features a diverse unit mix consisting of 8 Large (1bed/1bath) and 4 (2bed/1bath) units. 4 of the units have been fully remodeled with permits and boast new modern cabinets, flooring, recessed lighting, new bathrooms, stainless steel appliances, and a washer/dryer inside. All units are Individually metered for gas & electricity. The 9,166 SF of improvements sits on a large 12,230 double lot with parking in the back. Preliminary plans to add 3 attached ADUs in Carport + 2 detached ADUs. Solid 85 walk score, easy access to public transit, and freeways, situated minutes from The Grove, Beverly Center, Cedars-Sinai as well as the upcoming UCLA hospital and other major developments. In addition to the solid fundamentals, the property offers a new owner over 85% in achievable income upside potential. This amazing 12-unit multi-family investment property has undergone major exterior improvements as well and has been well maintained and cared for with a stable income stream ready to be taken to the next level!
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Listing Agent: Armin Soleimani
Listing Office: Global Platinum Properties, Inc.
Attribution contact: 818-524-0706