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(323) 864-4211
Linda Roth Burrell
151 S Mountainview Ave, Los Angeles, CA 90057
- $2,295,000
- 10
- BD
- 10
- BA
- 6,536
- SqFt
- List Price
- $2,295,000
- Price Change
- ▼ $100,000 1789620504
- MLS#
- 26851443
- Year Built
- 1954
- Bedrooms
- 10
- Bathrooms
- 10
- Living Sq. Ft
- 6,536
- Lot Size
- 6,388
- Days on Market
- 107
- Property Type
- Multifamily
- Stories
- 2
Property Description
Huge 300k Price Reduction and Now with Fully Approved RTI Plans! Renovated 10-unit building with RTI plans for 6 additional units, cash-flowing at an amazing 7% Cap Rate from day 1, with upside to 9.6% cap rate on pro forma. RTI plans to add 6 new units in the garages to achieve a remarkable 11.7% Current Cap Rate, a 14.2% pro forma cap rate, and only $ 169k/door after accounting for 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. RTI 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 neighborhood attractions, restaurants, bars, and shops such as Brooklyn Bagel Bakery, Boba Guys - Rideback Ranch, HiFi Kitchen, and Laveta Coffee, popping up all around the area.
Additional Information
- Other Buildings
- None
- Heat
- Wall Electric
- Cooling
- Ceiling Fan
- Number of Cars in Garage
- Attached
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Courtesy of Global Platinum Properties, Inc., Julio Ruiz - CA DRE#01911261
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