Description

Legal 4-plex close to Culver City, West Adams, Cumulus District, Hayden Tract and the soon-to-open Habitat development. Gross Scheduled Income: $105,664. Annual Expenses: $27,183. Net Operating Income: $78,481. GRM: 14.67. Cap Rate: 5.06%. Front unit is a townhouse style 3BD/2BA with other attractive unit mix of 3BD/2BA, 2BD/1BA, and 1BD/1BA. Two units have been remodeled. This property has been well maintained throughout the years with regular maintenance and several updates. Seller invested over $45,000 in improvements. Two units have been fully remodeled with new interior paint & new floors throughout, HVAC, updated plumbing, new full kitchen with appliances, new bathrooms and more. On-site laundry available for extra income. Low expenses. Quiet location on a cul-de-sac. Strong rental location. This area is undergoing an enormous transformation with the construction of new apartment buildings and the opening of creative office space for many tech companies such as HBO, Amazon, Apple, and more. Walk to new restaurants and galleries on West Adams such as Tartine, Normandie Bakery, Farmhouse kitchen, Alta, Mizlala, Adams Wine Shop and Cento and Whole Foods. Bike to trendy Culver City downtown, Boneyard Dog Park, Farmers Market, the LA Fitness and Equinox Gym. Easy commute to DTLA, Beverly Hills, Santa Monica and LAX. Seller paid $1,600,000 in 2022 and is selling due to change in life circumstances. Seller has assumable loan at 5.375%, balance $1.17M, and maturity date 05/2052 (Buyer to download form under Docs section). This is an excellent opportunity to acquire an investment property with strong income and future upside in rents and the neighborhood. A great starter property to launch your income portfolio. SELLER MOTIVATED-ALL OFFERS WILL BE ENTERTAINED!