Detailed Introduction Of This Home
Price drop alert! This is the deal you've been waiting for - a value-add 14-unit building with an unbelievable $200k price reduction! And what's even better? 4 of the units have already been fully renovated with permits and are ready to rent out. Located in prime Mid City, this property comes at only $213k per door, making it too good to pass up. With a remarkable Current Cap Rate of 5.5% and 12.6 GRM and an incredible 59% upside potential to a 10% Cap Rate and 7.9 GRM on proforma, you simply cannot afford to miss out on this opportunity. Plus, each unit is individually metered for gas and electricity while tenants cover garbage fees - saving you money on utilities from day one. The large 10,015 SF lot comes complete with gated parking spaces that can accommodate up to twelve cars and requires no soft-story retrofitting. Preliminary plans have already been drafted to add three attached ADUs in the garages as well as two detached ADUs over the carport - adding even more income-generating potential! And let's not forget about its unbeatable location near popular neighborhood attractions like Alibi Coffee Co., Starbucks, Koreatown, DTLA, Culver City, and public transportation options all while being close proximity to major freeways ensuring smooth travel times within Los Angeles city limits... Don't wait another moment-grab this rare opportunity before it slips away!