Detailed Introduction Of This Home
Back on market at revised price! Now being offered at a low $230k per door for all 2 Bed/1 Bath units with 14 on-site gated parking spaces. Located in the heart of Angelus Vista / Mid City with in-place RTI's and approved plans/permits by the City of LA to build (2) ADU's in the back tuck-under parking spaces. Adding the (1) 3+1 and (1) 1+1 ADU's would turn the property into 16 units ($200k per door), and 8 parking spaces will remain after construction completion. EQ retrofit work has already been completed! Seller has an assumable loan at a fixed 3.850% interest rate. Clean 1960's construction asset on a large 13k SF lot zoned LAR3 for future development. In-place & current 13 GRM without ADU's, with approximately 95% rental upside to a stabilized 6.70 GRM. Turn the property into a 10.5 current GRM once ADU's are completed & rented, and assuming all other rents remain the same. New roofs were put on both structures in 2017, copper plumbing, brand new master water heater and brand-new laundry room machines.