This 4 unit multi-family building built in 2009 already earning great income that starts with 6% cap rate. The money goes into your bank account at $14,400 per month / annual income at: $172,800 Gross /$141,275 Net (after annual taxes, insurance and every expense the seller pays that is actual Net). The rental income, you do not have to chase the tenants for all the money. The government, via section 8, will send the majority monthly rents on time every month to the bank account of your choice. This means no chasing money or tenants. The Actual Cap rate is 6% Net, after taxes and all expenses the seller pays. Increase the rents $1900 per month to improve the cap Rate to a 7.25%. Additionaly, There is room to add 2 ADU's of which, each unit will rent for going rents of $2,000 per month. This will increase the annual Gross income to $220,000/Net $189,000 after expenses to improve your Cap Rate to 9.40%. With a little work, earn a Cap Rate of 9.40% net annual income of $189,000. The tenants pay for water, gas, electrical and trash. Each unit has separate Water, Electric & Gas Meters. The property consist of 2 separate buildings, side by side, in one gated complex in excellent condition, built in 2009. Each of the 4 units feature 4 bedrooms, 2 bathrooms that include a bath tube and a shower. Tenants will enjoy a laundry room with washer and dryer hook-ups inside each unit. This 4 unit property that comprises of 2 duplexes on one lot, 2 separate parcels, each in excellent condition overall inside all the units and very attractive exterior of the buildings outside with a surrounding security gate and a grassed area for recreation. The tenants will enjoy large kitchens with all the kitchen emenites, such as granite countertops, dishwashers, garbage, disposal, tile floor and lots of wood cabinets, double pan windows throughout each unit. The bedrooms are larger than normal rentals, with newer carpets and with large closets, this helps the tenants enjoy a superb at home family lifestyle. Tenants love that units are close to LAX USC , LA Downtown, 110 & 105 FWY and public transit.
SB24023846
Multi-Family, Business Opportunities, 2 Story
Los Angeles
2009
0.1558
Acres
Public
2
Frame,Stucco
5,516
Sq. Ft.
Cable Available,Electricity Connected,Natural Gas Connected,Phone Available,Sewer Connected,Water Connected
2 Total
Detailed Room Information
- Laundry
- Washer Hookup,Gas Dryer Hookup,Laundry Room
Interior Features
- Cooling
- None
- Heating
- Other. Forced Air.
- Security
- Gated Community,Security Lights,Window Bars
Exterior / Lot Features
- Parking
- 8 Parking Spaces. 0 Covered Parking Spaces.
- Exterior
- Stucco, Frame
- Roof
- Composition
- Fence
- Chain Link,Good Condition,Pipe
- Additional Exterior/Lot Features
- 2-5 Units/Acre,Corner Lot,Level.
Community Features
- Security Features
- Gated Community,Security Lights,Window Bars
- Complex Features
- Gated Community,Security Lights,Window Bars
Financial Considerations
6075032012
Cash, Cash to New Loan, 1031 Exchange, FHA
Two Duplexes on a lot, 444-446 W 109th Place & 10950-10952 S Figueroa St, Los Angeles CA 90061 the 2nd Parcel # 6075-032-011
Loading...