Make best offers! Seller is local, and wants to review all written offers. Drive by Only, do not disturb tenants. Fantastic Opportunity to own a well-maintained bread-and-butter 7 unit apartment building that already brings $72,000 annually, and will continue to have big upside over time. Great location in historic Mid Los Angeles neighborhood of Arlington Heights (Near prime Koreatown and Hancock Park!).
Neighborhood is centrally located to command high rents on the open market. Rent rolls available in agent remarks. Property is a mix of 7 units currently. 4 units are 1 bedroom layout. One 3 bedrooms layout. One 2 bedrooms layout. One Studio unit. Total current monthly income is more than $6,000. Pro-forma schedule is $11,700 monthly (GRM = 9.2, Cap Rate = 8.7). Fantastic upside. 4 units currently have tenants over age of 60. Current owner renovated unit 6 in 2016, and entire property was copper re-piped in 2017. Owner has spent nearly $100,000 in improvement in last 24 months.
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