Property Detail

Description

Fantastic Opportunity! Nicely Remodeled Turn-Key Duplex with a 4 Bed 2 Bath upstairs unit leased for $3,952/M, and downstairs is a 3 Bed 2 Bath unit with a market rent rate of $3,700/M. Nicely remodeled kitchens and Bathrooms and newer flooring through out. Mini-Splits AC Units are efficient and home features dual pane windows, and each unit has its own balcony. Gated with motorized gate. Includes plenty of off-street parking, 6 spaces plus a detached 3 car garage. Cash flowing property with R3 Zoning and in LA's TOC, and with the right strategy, investors can achieve a CAP Rate of 6.12%+ as soon as this December, ask the Listing Broker for details. This property is located just south of Trendy SilverLake, without the SilverLake prices with Gentrification well under way with many similar properties on the same block being redeveloped into multi story apartments. This R3 property is withing LAs TOC which has relaxed parking requirements due to close transit availability and building 50+ units could be a possibility. (Confirm with LA Building & Safety). Would also make for a great property live in one unit and cash flow the other. Downstairs is leased below market, but lease expires this December. Act now, properties in this condition do not last long and units rent very quickly in this area, close to everything! Oh, and don't forget the Olympics are coming!